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Pastimes : Triffin's Market Diary
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To: Triffin who wrote (10)3/15/1999 11:59:00 AM
From: Triffin  Read Replies (1) of 868
 
PICK: PTI @ 23

PTI is the 3rd largest credit card
processor in the country..but the reason
I own it is their push in RP or recurring
payments. The whole concept of EBPP is
of great interest to me as there is a huge
incentive on the part of the 'biller' to
do this..the problem has been to convince the
'customer' to allow someone 'direct debit'
access to their checking accounts..I'm not keen
on it myself..I understand the economics of EBPP
but as the 'customer' I want to control when
I pay and how much I pay..ie it's my choice
not the billers..So far I see two 'customer
friendly' choices..CKFR's model for EBPP .. and
PTI's model where I as the customer can have my
recurring payments automatically 'billed' to my
credit card .. I still decide when and how much to
pay ..

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Paymentech, Inc., founded in 1985, provides full-service electronic payment solutions in merchant
acquiring, third-party transaction processing and commercial card payment and information
programs. The company processed approximately 2.2 billion total transactions and approximately
$54 billion in sales volume during calendar 1998. Paymentech is the third largest processor of
bankcard transactions and a leading issuer of commercial cards in the United States.

Paymentech Recurring Payments Fact Sheet

Recurring payments (RPs) account for over $500 billion in annual payments. Less than 2% is
currently captured on cards. Approximately 5% of payments are made through direct debits of
consumer checking accounts (Nilson Report, August 1996).

According to a MasterCard survey, 93% of all recurring bills are paid by writing a check; however,
36% of consumers currently use some type of recurring payment for at least one bill. Automatic
payment type preferences were --

-- automatic checking account debit (electronic check processing) -- automatic paycheck deduction
-- credit card recurring

Consumer Research
-- 34% of consumers (not currently using) would prefer a recurring
payment
-- About one in four consumers (24%) mentioned they would switch to a
competitor, where the option exists, if they could do automatic
recurring payments.

Benefits of RPs
Merchants (service industry providers):
-- secure transactions
-- streamlined processing
-- improved collections
-- improved customer service and retention
-- incremental sales

Consumers:
-- convenience, saves time and money
-- option to revolve
-- earn points in co-branded and frequency award programs

SOURCE: Paymentech, Inc.

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