Pete Kight, Chairman & CEO of CheckFree Corporation, Presents at the 16th Annual BancBoston Robertson Stephens Technology Conference
Monday February 22, 9:30 am Eastern Time
Company Press Release
SOURCE: CheckFree Corporation
SAN FRANCISCO, Feb. 22 /PRNewswire/ -- The emerging electronic billing and payment market has been receiving increased attention as high-profile billers such as AT&T, The Southern Company and CountryWide Mortgage have announced their plans to employ the technology to not only save costs, but to drive strategic advantages such as lifetime customer value and one-to-one customer relationships that create loyalty and reduce customer churn.
CheckFree Corporation (Nasdaq: CKFR - news) invented the concept of electronic billing and payment, and is the only company today with an in-production system. To date, CheckFree has contracts to present and pay bills distributed by 42 of the nation's top 150 billers -- collectively representing more than a half-billion bills per month. In addition, the Company processes payments for more than 350 financial institutions -- including 23 of the top 25 leading brokerage firms such as Charles Schwab, personal financial management products such as Quicken, and the leading financial Internet site, Quicken.com. Recently CheckFree announced it had signed a contract with a leading high- traffic Internet portal to provide consumer access to electronic billing and payment.
In his presentation, Chairman and CEO Pete Kight discusses the advantages billers are seeking from their electronic billing and payment systems, the market potential, and the drivers and inhibitors of wide-spread consumer adoption. He also explores the roles billers, access providers, financial institutions and processing companies are likely to play as the market unfolds.
Having built an electronic billing and payment infrastructure that can support adoption by one-third of U.S. households, an unmatched business model that enables consumers to pay any bill electronically -- whether or not it is presented electronically -- and a 24x7x365 customer care infrastructure that supports auditing and tracking of bills through the delivery and payment cycle, Mr. Kight will share insights learned over CheckFree's 15-year history of managing the way money moves.
SOURCE: CheckFree Corporation
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