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

To: Benny Baga who wrote (4205)	4/1/1999 6:58:00 PM
From: DMauch	Read Replies (2) \| Respond to of 20297

I read the following in "How to invest in E-Commerce stocks" by Bill Burnham. Any comments on this opinion and how it may effect CheckFree? "...there is one very interesting side effect of bill presentment. Remember the special 'return address' on each bill presentment? This address will include detailed instructions for electronically paying the bill and remitting the payment information back to the merchant. This is potentially very bad news for electronic bill payment providers. Today these companies rely on detailed merchant databases and proprietary remittance connections to send their bill payments. These two assets not only make electronic bill payment possible, but they also make it very hard to enter the business because they take years to build. But in the world of electronic bill presentment, all of a sudden these two assets become pretty much worthless as the return address on the bill makes it easy for just about any payment processor to flawlessly send an electronic or paper bill payment to a merchant even if the processor has never dealt with the merchant before. To be sure, in reality things won't be that easy. For example, before any of this can happen the industry will have to agree on a standard (which could take years). But this feature does make bill presentment a bit of a mixed blessing for electronic bill payment providers." Thanks for your input.