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

To: AugustWest who wrote (13938)	2/22/2000 7:41:00 AM
From: Rob C.	Read Replies (2) \| Respond to of 20297

Auggie, You beat me today...lol. But here is one you didn't get to. cbs.marketwatch.com E-Trade leads in bill-pay site funding By Emily Church, CBS MarketWatch Last Update: 12:10 AM ET Feb 22, 2000 NewsWatch NEW YORK (CBS.MW) -- E-Trade has taken the lead on a $30 million private financing round in Paymybills.com, an online company that specializes taking care of bills for customers. The investment comes on the heels of E-Trade's (EGRP: news, msgs) own efforts to expand into banking services with the recent purchase of Telebanc, an online-only bank. Eventually, the Telebanc services and Paymybill's service will be marketed together, Chief Executive John Tedesco said. Under current marketing plans, E-Trade brokerage customers can expect to see a discount in Paymybills.com's monthly charges. "I think this puts in a leadership position," he said. Rivals include Paytrust and Cyberbills. Paymybills' charges customers $8.95 a month to process up to 25 bills -- electronic or otherwise -- the same amount as Paytrust. Snail-mail bills are routed to Paymybills.com, which scans them into its system. Customers can then access those bills online and pay for them electronically. The Pasadena-based company says it's "paying" some $1 million in bills a week, Paymybills launched on July 19 last year and isn't changing its focus from including the lower-margin scanning business, Tedesco said. To compare, CheckFree (CKFR: news, msgs) is on the electronic bill payment and presentment side. Less than 1 percent of some 18 billion bills sent annually in the U.S. are sent electronically. Until that dynamic changes, Tedesco expects to continue dealing with mailed bills. Paymybills.com, a private company, has signed up "tens of thousands" of registered users, he said. Around 40 percent are expected to become active users of the service. E-Trade is coming in on the company's second round of financing. Existing investors included Idealab and Idealab Capital Partners. E-Trade will take a minority stake in the company. Emily Church is the New York bureau chief for CBS MarketWatch