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Technology Stocks : CheckFree Holdings Corp. (CKFR), the next Dell, Intel? -- Ignore unavailable to you. Want to Upgrade?

To: Dwight E. Karlsen who wrote (7197)	6/26/1999 3:36:00 AM
From: Erik T	Read Replies (3) \| Respond to of 20297

Bill payment isn't where the money is, it's in bill presentment. I am getting more confused all the time. I thought I was starting to understand this company and industry. From CKFR's 10-Q: >>>Additionally, the Company's efforts to rapidly enroll significant national merchants in electronic bill presentment programs, which will be integrated with financial institutions' electronic bill payment and banking offerings, will allow consumers complete electronic "round trip" payment capabilities. The growth in bill presentment is expected to drive growth in bill payment revenue through a more complete electronic offering, more so than providing a new stand alone revenue stream.<<< There is obviously money to be made in both bill presentment and bill payment. CKFR is the market leader in bill payment, and is staking its claim in bill presentment. CKFR derived $10,000 in last nine months from bill presentment, and well over $100,000,000 in bill payment. Both areas are prime for significant growth, but there is disparity between what has been stated in various sources. My questions: 1) What does a CKFR E-Bill contract with a biller such as MCI or AT&T mean to CKFR? Do they have a multi-year, exclusive contract to present their bills? and what kind of revenue do they derive from this? Do they derive revenue from the banks (Banc One) that actually present those bills? 2) If CKFR fails to become a force in bill presentment, how will that likely affect the payment side of their business? 3) Any idea when contracts are up for bill payment services to Chase, Wells and First Union? More confused than ever, Erik