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Technology Stocks : CheckFree (CKFR) -- Ignore unavailable to you. Want to Upgrade?

To: pat mudge who wrote (1273)	1/21/1998 8:38:00 PM
From: Brooks Jackson	Read Replies (2) \| Respond to of 8545

All: More Vaporware from MSFDC -- an announcement that they have an agreement with BancOne to provide a PILOT program of bill presentment and bill payment. The bad news for CKFR: It's a real, grown-up bank this time, not just some credit union. The still not-so-bad news: There is no date given for the start of actual service, or any explanation of how large this "pilot" program will be. Evidence IMO that CKFR is still miles and miles ahead. I read this as evidence that big banks recognize CKFR's dominance and wisely want to promote some competition among future e-commerce service providers. Here's the release: Banc One Joins Forces With MSFDC to Pilot Internet-Based Bill Presentment and Payment Service DENVER, Jan. 21 /PRNewswire/ -- MSFDC, the joint venture of Microsoft Corp. (Nasdaq: MSFT) and First Data Corp. (NYSE: FDC), and Columbus, Ohio-based Banc One Corp. (NYSE: ONE) today announced their cooperation in a pilot program that will enable Banc One's online-banking customers to receive and pay a variety of bills over the Internet. Banc One and its subsidiary, First USA, also are planning a biller pilot program with MSFDC to give credit- card holders the option of receiving and paying their monthly statements from Banc One and First USA through the Internet. Banc One also will serve on the MSFDC advisory board. "We are very pleased to have Banc One's involvement on our advisory board and in our pilot program," said Hank DeNero, executive vice president of First Data. "With this alliance, MSFDC has demonstrated its flexibility in working with the banking industry to make electronic bill presentment and payment a reality for all consumers." Banc One joins a growing list of banks that want to provide their customers with state-of-the-art electronic bill presentment and payment options. In December, MSFDC announced that a number of nationally recognized banks and billers had agreed to participate in the pilot. Ken Stevens, chairman and CEO of Banc One Retail Group, said, "Internet-based bill presentment and payment will represent a significant new level of service for our customers -- both consumers and corporations. Banc One expects to play a major role in the development of this new industry. We are pleased to be working with MSFDC, which has demonstrated early leadership in this area." Benefits to Banks and Consumers Banc One will customize MSFDC's electronic bill presentment and payment system for its own online banking customers. With the pilot service, Banc One customers will benefit from an efficient, easy-to-use bill-management system that will collect their bills from participating billers at the Banc One bill presentation site. Using a standard browser, customers will be able to point, click and pay their bills in a fraction of the time they would typically take to write a check, record it in their check register, find a stamp and mail the bill. The MSFDC electronic bill presentment and payment system is planned to be integrated with the Integrion home banking service offered by Banc One. Unlike current electronic bill payment services that charge banks for payments made by their online customers, the MSFDC service includes no fees for the branding banks, like Banc One. In fact, MSFDC will share revenues with financial institutions that offer the service. There also are revenue opportunities for banks that offer the MSFDC service to their commercial customers. "When combined with cost savings in billing, payment processing and check handling, electronic bill presentment and payment represents a significant profit enhancement to participating banks," DeNero said. For billers using the service, MSFDC provides a variety of services for complete control and efficiency in bill delivery and collection, such as returning error-free remittances, allowing full involvement in the bill's image and design, and providing flexible payment options. Billers pay MSFDC a fee, roughly equivalent to the cost of postage, to deliver an electronic version of a bill or statement to their customers via a financial institution's branded site, like Bank One Online Services. For no additional cost, MSFDC also returns the remittance information (like a bill stub) and payment instructions to the biller or the biller's lockbox. About Banc One Banc One Corp. had total managed assets of $142.9 billion, total assets of $113.1 billion, and common equity of $9.9 billion at Sept. 30, 1997. Banc One operates banking centers in 12 states. Banc One also owns several additional corporations that engage in a full range of financial services. Information about Banc One's financial results and its products and services can be accessed on the Internet at bankone.com, through InvestQuest at investquest.com or by fax-on-demand at 614-844-3860. About MSFDC Based in Denver, MSFDC is a joint venture of Microsoft Corp. and First Data Corp. formed in June 1997. In summer 1998, the company is scheduled to introduce the nation's first end-to-end system for electronic presentment of richly formatted bills over the Internet, as well as next-generation electronic payment and remittance capabilities. MSFDC's service, which will use existing payment systems, will allow consumers to access and pay their bills through the branded home-banking services of participating financial institutions. Information on the service is available through the Internet at msfdc.com. NOTE: Microsoft is either a registered trademark or trademark of Microsoft Corp. in the United States and/or other countries. Other product and company names herein may be trademarks of their respective owners. SOURCE MSFDC CO: Microsoft Corporation; First Data Corp.; Banc One Corp.; MSFDC ST: Washington; Colorado; Ohio IN: CPR MLM FIN