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

To: Ron S who wrote (97)	11/13/1998 8:21:00 AM
From: Benny Baga	Read Replies (1) \| Respond to of 20297

First Union pilots transpoint on eastern seaboard November 13, 1998 Signing up for TransPoint does not necessarily mean clients will have to use Citibank's remittance processing services, says Tara Bullock, a First Union spokeswoman. First Union solely is looking at TransPoint as a bill consolidator site, much like its deal with CheckFree, she says, and therefore should not be threatened by Citibank's financial position in TransPoint. The joint company was already in talks with First Union before Citibank joined the fold, and was not disrupted by Citibank's recent announcement, says Jessica Ostrow, vice president of marketing at TransPoint, originally a joint venture between Microsoft and First Data. "If anything, Citibank's equity position reinforces our commitment to using banks as the focal point to be the main distributor for bill presentment and payment," Ostrow says. First Union may be the first of many banks to turn to TransPoint, particularly since CheckFree seems to have altered its stance on bank initiated payments for billers, says Ed Neumann, managing director at Farragut Group, a software development and consultant firm in Washington. CheckFree appears to be rethinking its reliance on banks to sign up billers and consumers, a position causing some consternation among banks, given the fact that CheckFree already dominates the bill payment market for billers, Neumann says. First Union's addition as a TransPoint pilot also means the system will get a little more presence on the eastern seaboard, enhancing the company's regional and national presence, Ostrow says. Anytime First Union signs up with a solutions provider, it is significant, Neumann concurs. "[First Union] is well respected in technology circles. "