To: Rob C. who wrote (6810 ) 6/23/1999 10:58:00 PM From: Dwight E. Karlsen Read Replies (1) | Respond to
"In fact," Kight continued, "the three banks cited their desire to 'jump-start' electronic bill payment as a major incentive for their efforts. They believe, and we agree, that additional efforts to bring billers live will help to accelerate the overall market. Because of our deep relationships with these three banks, and with more than 300 others, our Company can only benefit from the increased attention on electronic billing through the banking channel." and potential CKFR end-user in the world. "Any publicity is good publicity". Obviously with such a dramatic stock move in one day, CKFR has been onto something very, very important. "Three banks will try to create an electronic look-up facility to connect bills with their intended recipients, and they will try to sell this facility to other banks that are each expected to try to sign up billers. There was no announcement of any intent to create a pay-anyone capability, no announcement of any pooling of technological resources to create better bills for billers, and nothing that threatens CheckFree." For the first nine months of its current fiscal year, CheckFree derived less than $10,000 of its more than $179 million of revenue from the delivery of electronic bills. The look-up directory that The Exchange seeks to create mimics a function CheckFree maintains today for 21 billers distributing to consumers through 20 Web-enabled institutions. "
