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To: TLindt who wrote (6993)	8/20/1998 1:21:00 AM
From: AugustWest	Respond to of 8545

Okay, I'll take the last word......am I still barking up the wrong tree? Consumer Electronic Bill Payments Increased 150% in 1997 NACHA and Coopers & Lybrand Report Herndon, VA, May 18, 1998- The consumer-initiated electronic bill payment industry processed more than 283 million consumer bill payments in 1997, a 150% increase over 1996, according to the results of the first ever survey of the industry. Sponsored jointly by the National Automated Clearing House Association (NACHA), acting through its Bill Payment Council, and Coopers & Lybrand, L.L.P, the survey found that electronic bill payments were worth $64.3 billion 1997, up 139% from 1996.http://www.nacha.org/Default.htmhttp://www.nacha.org/Default.htm "The growth of electronic bill payment is promising for both financial institutions and providers of payment services," said Elliott McEntee, President and CEO of NACHA. "What we are seeing is the rapid development of an industry that provides convenience to consumers who want to pay their bills electronically." The survey examined consumer bill payment transactions processed by a cross-section of the largest bill payment service providers in the country. For purposes of the study, consumer electronic bill payments are defined as payments that are electronically initiated by consumers. This includes payments from personal financial management software, PC banking, Internet banking and telephone banking. "One of the major goals of the study was to develop a benchmark of the total electronic bill payment market so that we could all discuss bill payments from a common starting point," said Charles Wickenden, Chairman of the Bill Payment Council. "With a defined starting point, we have the ability to measure the impact of various initiatives by individual service providers and by groups like the Bill Payment Council." "I think we are reaching critical mass in the electronic billing industry," said Mark Webster, Senior Manager in the Financial Services Practice of Coopers & Lybrand. "You have a whole generation of consumers that expects to be able to use PC's and other electronic devices to simplify their lives." Another finding of the study is that the top five consumer bill payment service providers account for 73% of the market, with no single service provider controlling a majority of the market. Although the study will not publish a list of the top service providers due to participant concerns regarding confidentiality, Webster stated that the companies making up the top five service providers changed from 1996 to 1997, and a number of new service providers entered the market. A majority of the consumer service providers, including all of the top five, indicated that they plan to develop electronic bill presentment capabilities, in which electronic versions of the bills are made available on-line. Most of them planned to offer their basic service over the Internet, as well. The final report is available from NACHA at 800-487-9180 or info@nacha.org. Consumer-Initiated Electronic Bill Payments ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ1997 ÿÿÿÿÿÿÿÿÿÿÿÿ1996 % ÿÿÿÿÿÿÿÿÿÿÿÿÿIncrease Volume (millions) ÿÿÿÿÿÿ283.6 ÿÿÿÿÿÿÿÿÿÿÿ113.4 ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ 150 Dollars (billions) ÿÿÿÿ ÿÿÿÿ64.3 ÿÿÿÿÿÿÿÿÿÿÿÿÿÿ26.9 ÿÿÿÿÿÿÿÿÿ ÿÿÿÿÿÿ139 ÿ About the National Automated Clearing House Association (NACHA) NACHA represents more than 13,000 financial institutions through its 35 regional ACH associations, six councils and corporate Affiliate Membership program. A leader in the payments industry, NACHA develops operating rules for the Automated Clearing House Network and for emerging electronic payment solutions in the areas of Internet commerce, bill payment and presentment, financial electronic data interchange, cross-border transactions, electronic checks, and electronic benefits transfer. NACHA produces marketing collateral and technical publications, and provides extensive education services, including major conferences and seminars. Visit NACHA on the Internet at www.nacha.org.