CheckFree i-Solutions Delivers Electronic Billing and Payment Program to 70
Million Federated Department Stores' Credit Card Holders
Business Editors
ATLANTA--(BUSINESS WIRE)--Aug. 20, 2001--
Consumers across the country can now receive and pay their
department store credit card bills at their choice
of over 300 financial services sites
CheckFree i-Solutions, the leading provider of interactive
e-billing and e-statement applications and part of CheckFree
Corporation (NASDAQ: CKFR), today announced that 70 million Federated
credit card customers can now receive and pay their bills online at
their choice of more than 300 CheckFree-powered sites including banks,
brokerages, credit unions and Internet portals.
Federated operates 450 stores across 34 states, Guam and Puerto
Rico, including Bloomingdale's, The Bon Marche, Burdines, Goldsmith's,
Lazarus, Macy's and Rich's, as well as macys.com, bloomingdales.com
and Bloomingdale's By Mail.
With the service, consumers can save time and increase control
over their finances by paying their bills online and experience the
interactive benefits of electronic bills not offered in the paper
world. Federated credit card customers can access, review and pay
their bills faster and more easily than with paper payments. They can
view their credit card bill 24 x 7, review current and outstanding
account balances and access the full bill detail from the convenience
of their personal computer. With a few simple clicks of the mouse,
consumers can approve the bill and schedule the date of the payment
with the specified amount deducted electronically from their
designated bank, credit union or brokerage account. Customers who pay
bills electronically through this service are protected from
unauthorized transactions or processing delays by the CheckFree
Guarantee.
"A growing number of retailers, such as Federated, are embracing
electronic billing and payment because it offers their customers an
easy way to manage their finances while increasing their free time,"
said Tom Stampiglia, president of CheckFree i-Solutions. "Federated
customers can now enjoy the benefits offered by CheckFree, such as the
security of the CheckFree Guarantee and the ability to pay everyone,
even businesses that do not send electronic bills."
In addition to receiving and paying their bills at one of over 300
financial services sites, consumers can also use "pay everyone"
services to make payments from their computers to anyone to whom they
would ordinarily write a check. This includes all bills, even to day
care centers, home maintenance services, or friends and family
members, such as children away at college.
Some of the online financial service providers making the
Federated bills available electronically include:
-- Bank of America bankofamerica.com
-- Bank One bankone.com
-- Charles Schwab at
charlesschwab.com
SN047mainSchwabBillPay/
-- Citizens Bank citizensbank.com
-- First Union
personalfinance.firstunion.com
0,,60,00.html
-- Merrill Lynch newmlol.ml.com
-- Morgan Stanley Dean Witter dwdean.com
-- Navy Federal Credit Union emsc.navyfcu.org
-- NetBank netbank.com
-- PNC Bank accountlink.pncbank.com
-- Quicken 98/99 software and Quicken.com
bills.quicken.com
-- US Postal Service usps.com
-- Yahoo! bills.yahoo.com
For a complete list of sites that offer CheckFree electronic
billing and payment, visit www.checkfree.com/freedom.
About CheckFree i-Solutions
As a software group within CheckFree Corporation, CheckFree
i-Solutions is the leading provider of end-to-end business-to-consumer
and business-to-business solutions for e-billing and payment and
e-statement delivery. CheckFree i-Solutions offers CheckFree i-Series
software for e-bill and e-statement creation, i-Processing services
that include payment and distribution through over 300 financial
services sites and customer care, and i-Hosting services that
accommodate self-hosting or outsourcing. With 271 billers under
contract, CheckFree i-Solutions is committed to helping billers,
financial services organizations and biller service providers leverage
electronic bills and statements as interactive conduits to customer
relationship management, marketing and customer self service
applications. For more information about CheckFree i-Solutions, please
visit www.checkfree.com/i-solutions.
About CheckFree (www.checkfree.com)
CheckFree (NASDAQ: CKFR) is the leading provider of financial
electronic commerce services and products. Founded in 1981 and
celebrating its 20th year in e-commerce, CheckFree is comprised of
three divisions: Electronic Commerce, Software, and Investment
Services. CheckFree launched the first fully integrated electronic
billing and payment solution in 1997. As of June 30, 2001, CheckFree's
Electronic Commerce division enabled more than 5.2 million consumers
to receive and pay bills electronically. The company has multi-year
contracts with 271 of the nation's top billers to provide online
billing and payment through more than 300 financial services
organizations, including banks, brokerage firms, Internet portals and
content sites and personal financial management (PFM) software.
CheckFree Investment Services provides a broad range of investment
management services to thousands of financial institutions nationwide.
The division's clients manage more than 1,150,000 portfolios totaling
more than $500 billion in assets.
CheckFree's Software division provides solutions through three
operating units: CheckFree ACH Solutions, CheckFree Financial and
Compliance Solutions (CFACS), and CheckFree i-Solutions. CheckFree
i-Solutions is the leading provider of e-billing and e-statement
software and hosting services for both business-to-consumer and
business-to-business applications, with more billers as clients than
all of its competitors have combined. CheckFree ACH Solutions provides
software and services that are used to process more than two-thirds of
the nation's six billion Automated Clearing House payments, while
CFACS provides reconciliation and compliance software and services
to more than 400 organizations in the banking, brokerage, utility,
retail, insurance and credit card industries, among others.
About Federated
Federated, with corporate offices in Cincinnati and New York, is
one of the nation's leading department store retailers, with annual
sales of more than $18.4 billion. Federated currently operates more
than 450 stores in 34 states, Guam and Puerto Rico under the names of
Bloomingdale's, The Bon Marche, Burdines, Goldsmith's, Lazarus, Macy's
and Rich's, as well as macys.com, bloomingdales.com and Bloomingdale's
By Mail. Federated also operates the Fingerhut catalog and e-commerce
subsidiary. More information about Federated is available at
www.federated-fds.com.
Certain of the Company's statements in this press release are not
purely historical, and as such are "forward-looking statements" within
the meaning of the Private Securities Litigation Reform Act of 1995.
These include statements regarding management's intentions, plans,
beliefs, expectations or projections of the future. Forward-looking
statements involve risks and uncertainties, including without
limitation, the various risks inherent in the Company's business, and
other risks and uncertainties detailed from time to time in the
Company's periodic reports filed with the Securities and Exchange
Commission, including the Company's Form 10-K for the year ended June
30, 2000 (filed September 26, 2000), Form 10-Q for the quarter ended
September 30, 2000 (filed November 14, 2000), and Form 10-Q for the
quarter ended December 31, 2000 (filed February 13, 2001); and Form
10-Q for the quarter ended March 31, 2001(filed May 11, 2001). One or
more of these factors have affected, and could in the future affect,
the Company's business and financial results in future periods, and
could cause actual results to differ materially from plans and
projections. There can be no assurance that the forward-looking
statements made in this document will prove to be accurate, and
issuance of such forward-looking statements should not be regarded as
a representation by the Company, or any other person, that the
objectives and plans of the Company will be achieved. All
forward-looking statements made in this press release are based on
information presently available to management, and the Company assumes
no obligation to update any forward-looking statements.
--30--jah/at*
CONTACT: CheckFree
Media relations
Judy DeRango Wicks, 678/375-1595
jdwicks@checkfree.com
or
Investor relations
Tina Moore, 678/375-1278
tmoore@checkfree.com
KEYWORD: GEORGIA OHIO NEW YORK
INDUSTRY KEYWORD: BANKING SOFTWARE E-COMMERCE RETAIL INSURANCE
MARKETING AGREEMENTS
SOURCE: CheckFree Corporation
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