Introducing BillerExpress™ Bill Presentment & Payment Services, an EBPP Solution Designed to Integrate with Traditional Lockbox Solutions
ChoicePay and Transactis Partner to Offer Patent-Pending Secure E-Mail, plus Internet, Phone and Walkup Payments
Tulsa, OK/Bethesda, MD - July 20, 2007 - ChoicePay, an electronic payments provider, and Transactis, the industry leader in presentment technologies such as secure e-mail billing announced their intention to launch BillerExpress™, an electronic bill presentment and payment (EBPP) solution for middle-market businesses, this fall. Sold through financial institutions and remittance processors, BillerExpress addresses the market need for a low-cost, easy-to-implement EBPP solution for companies with $50 million to $250 million in revenues. To help billers attract more than just the tech-savvy customer, BillerExpress provides five EBPP solutions: web, secure e-mail/BillMail®, IVR, call centers and kiosks. BillerExpress was created to give billers an e-bill product that is affordable and non-resource intensive and that gives support to their efforts to suppress their customers' paper bills.
It is with middle-market companies that financial institutions see as a lucrative yet untapped market. According to the Aite Group, by 2013 this sector will spend $156 billion on financial services - a 71% increase from 2007 - and increasingly adopt e-solutions such as e-payments, automatic posting to internal accounting systems and giving access to banking data online.Further, statistics show that the number of paper checks being processed is declining at an estimated 5-6% per year. It is in this environment that billers are looking for electronic presentment and payment solutions that meet a new customer need without having to invest in expensive infrastructure to support a non-core function. Further, statistics show that the number of paper checks being processed is declining at an estimated 5-6% per year. It is in this environment that billers are looking for electronic presentment and payment solutions that meet a new customer need without having to invest in expensive infrastructure to support a non-core function.
Transactis, Inc. CEO, Joe Proto, a 25-year veteran of the traditional remittance processing industry, is one veteran of the paper processing world who is convinced that there is a dramatic shift occurring in the world of presentment and payment of bills. "After years of incremental change, financial institutions are being forced to reexamine their product mix," Proto said. "They face the risk of losing millions of transactions if they don't move quickly enough to follow consumers' changing payment preferences. It will no longer be enough to optimize the cost of check processing infrastructure. Now, they must identify a profitable strategy for helping their clients with electronic payments as well."
The BillerExpress integrated bill presentment and payment service allows banks and remittance processors to integrate inbound web, phone and walk-up payments, as well as e-mail bill presentment, with existing lockbox offerings. It provides for acceptance of electronic check and credit card payments over the phone and online using scalable, secure and PCI-certified technology. Cash payments are accepted at thousands of locations, including the ChoicePay and Vcom® Kiosk networks, and walk-up locations are being added.
A differentiator of BillerExpress is that it does not rely solely on the limited "build it and they will come" value proposition that the current offerings of web presentment and payment, alone, provide. The service also allows a financial institution's treasury clients to have a full EBPP solution created for them in only 4-6 weeks, at a price point that even smaller companies can afford, and with limited resources required for implementation.
"Where do U.S. businesses go today for an EBPP solution?" asked Thomas L. Kohn, Transactis President. It makes sense that they go to the banks or remittance processors already providing them with treasury management services. Plus, this solution is not simply web-based. It offers a wide variety of presentment and payment options - like secure e-mail billing and kiosks - that attract a multiple demographics to the world of electronic billing. This is e-billing for the mass market, at prices that smaller businesses can afford."
Kohn noted that Transactis' payment partner, ChoicePay has been creating middle market solutions for over two years, investing in an infrastructure and providing product through both distribution partners and direct sales initiatives. The Tulsa-based company has supported the needs of large financial institutions and remittance processors with the highest level of security standards and the flexibility of a Service Oriented Architecture.
"Although BillerExpress includes cutting-edge technology, it isn't just software," said Greg Adelson, ChoicePay president. "This is a full-service offering by two companies providing mature and proven business processes, reconciliation, exception processing, customer service and call centers for financial services companies. BillerExpress is a turnkey electronic payments solution that complements existing lockbox offerings."
About Transactis
Transactis, Inc. (www.transactis.com) - features two easy-to-use and affordable EBPP solutions - BillerExpress™ and BillMail® - helping billers to attract a wider variety of their customers to electronic bill presentment and payment. BillMail is a patent-pending e-mail billing platform, that pushes secure e-mail bills to customers, allowing them to both view and pay their bills, securely, within the e-mail. BillMail does not require users to reveal their payment information within the e-mail and does not require a download of software or the need to click on attachments or hotlinks. Both BillerExpress and BillMail help billers improve their paper suppression efforts, decrease transaction costs and lower DSOs (days sales outstanding) by providing a more convenient EBPP solution to their customers. Transactis has been creating customer-friendly electronic presentment and payment solutions for corporate clients across the United States, including a top-ten bank, Louisville Gas & Electric, Old Dominion Power, Kentucky Utilities and more. For information, contact Transactis at info@transactis.com or (301) 469-3800. Transactis is based in Bethesda, Maryland.
About ChoicePay
ChoicePay, Inc. is an electronic bill payment solutions provider and a subsidiary of Tulsa National Bancshares, Inc., a federally regulated bank holding company. ChoicePay began as an electronic lockbox for billers in 1996 with the mission of streamlining high-volume bill-payment processes. The company makes available a comprehensive suite of ACH, credit card, and cash payment options via the Internet, bilingual Interactive Voice Response (IVR), bilingual call center, unattended walk-up kiosks, and attended walk-in retail locations. Bill payments can be made on the ChoicePay® Kiosk Network or on Vcom®, the nation's largest multi-biller kiosk network located in more than 1,000 select 7-Eleven® stores and available 24 hours a day. These kiosk solutions provide the unbanked and underbanked consumers a convenient cash option to pay multiple bills at one location any time of day. VISA and MasterCard International have certified ChoicePay as a Cardholder Information Security Program (CISP) compliant service provider that has met the Payment Card Industry (PCI) Data Security Standard requirements. For more information, visit www.choicepay.com.
Contact
ChoicePay:
Julie James, Marketing Manager
Office: (918) 477 3119
Mobile: (918) 407-1108
jjames@choicepay.com
Transactis:
Peggy Keegan
Office: (301) 299-4579
Mobile: (202) 236-1236
pkeegan@transactis.com
