Official Payments Corporation, the leading provider of electronic payment options to government entities, announced the Internal Revenue Service has exercised its option for a one year extension the company’s contract to collect and process individual income tax payments by credit card over the Internet and telephone.
! The current contract authorizes Official Payments to provide a service which allows taxpayers to make tax year 2000 Form 1040 Balance Due Payments, filing and payments with Form 4868 Extension of Time to File, and 2001 Form 1040ES Estimated Payments on the Internet at www.officialpayments.com or by telephone at 1-800-2PAY-TAX. The new award extends the current agreement for an additional calendar year. In addition to the IRS, Official Payments has similar agreements with 17 state governments and over 700 counties and municipalities across the United States. In 2000, Official Payments collected and processed over $925 million in credit card payments on behalf of its federal, state, and local government clients.
“We are gratified and pleased with the new award from the IRS. It is encouraging when your largest client renews your business,” said Thomas R. Evans, Chairman & CEO of Official Payments. “With our busiest season ahead of us, our momentum is strong. This time last year we had six state clients and 450 county and municipal clients. Today we do business with 17 states and well over 700 counties and municipalities. We attribute our market-leading position and success to a highly developed knowledge base and core competency in delivering a unique service to government organizations and their constituents,” Mr. Evans added.
About Official Payments Corporation
Official Payments Corporation (Nasdaq: OPAY) is the leading provider of electronic payment options to government entities. The company’s principal business is enabling consumers to pay their government taxes, fees, fines, and utility bills by credit card, via Internet and telephone. The company is unequaled in market penetration and national footprint. Official Payments is the incumbent in agreements with the Internal Revenue Service, 17 state governments, and well over 700 county and municipal governments in 41 states across the United States. In 2000, Official Payments collected and processed over $925 million in federal, state, and local government payments. Official Payments was founded in the San Francisco Bay area in 1996. Thomas R. Evans, the former President & CEO of the Internet company GeoCities, became Chairman & CEO of Official Payments in the summer of 1999. Mr. Evans brought Official Payments public in November of 1999, raising $80 million in its IPO on the NASDAQ national market. The company has experienced rapid and sustained growth over the past six reported quarters in revenue, new client acquisition, and addition of incremental services to existing clients. The company’s success can be attributed to the combination of an enormous market opportunity with a highly skilled and experienced management and staff, aggressive sales and marketing, and a core competency in developing and implementing leading-edge technical systems.