Billers using the MSFDC Internet-based system for bill presentment and payment services will make use of Princeton TeleCom Corporation’s Presentment Server and value added electronic clearing technologies. MSFDC’s system provides Internet bill presentment and payment services to banks and consumers. Princeton TeleCom was selected as a key participant to play a major role in MSFDC’s newly formed Systems Integrator Program. The Systems Integrator Program follows the announcement of MSFDC’s pilot program for financial institutions and billers, which is being initiated with three leading banks and a number of nationally recognized billers.
Princeton TeleCom has established long-standing relationships with over 700 of the nation’s leading billers, which for years have used Princeton TeleCom’s els Electronic Lockbox Service(TM). This places Princeton TeleCom in a key position to lead the automated billing and payment revolution.
When MSFDC’s Internet bill payment service is more widely introduced later this year, customers of billers will be able to see customized utility, banking and other bills via an electronic format on a home computer screen.
The goal of the MSFDC Systems Integrator Program is to provide billers, financial institutions and processors with an extensive pool of professional technology companies to help them quickly and efficiently implement the MSFDC electronic bill presentment and payment system. Systems Integrators are expected to offer a variety of products and services including consulting, development, integration, Web-based design, support and ongoing maintenance.
“MSFDC wants to offer both banks and billers maximum flexibility in customizing our electronic bill presentment and payment system,” said Richard Pickering, senior vice president at MSFDC. “To satisfy their varying needs, we’ve built a team of heavy hitters in systems integration and solution implementation. So, whether a bank or biller wants vertical industry expertise or specific systems or applications expertise, we have the solution providers to help them.”
“With the help of companies like Princeton TeleCom, MSFDC will take electronic bill presentment and payment beyond its infancy stage to large-scale acceptance and usage,” said Warren Dent, senior vice president at MSFDC. “Princeton TeleCom provides a valuable service by helping billers prepare their data from various platforms and integrate it with MSFDC’s technology.”
MSFDC’s bill payment and presentment system will translate accounts receivable data from a biller’s computer system, make them presentable to consumers through the Internet, and allow for electronic payment of the bill in full or partial amount on the date specified by the consumer. By supporting MSFDC, Princeton TeleCom will be a key component of the success of electronic consumer billing and payment.
Based in Denver, MSFDC is the electronic bill presentation-bill payment joint venture between Microsoft (NASDAQ MSFT) and First Data Corp. (NYSE FDC), formed in June 1997. In the summer of 1998, the company is scheduled to introduce the nation’s first end-to-end system for electronic presentment of richly formatted bills over the Internet, as well as next-generation electronic payment and remittance capabilities. MSFDC’s service, which will use existing payment systems, will allow consumers to access and pay their bills through the branded home-banking services of participating financial institutions.
To implement the MSFDC system, MSFDC launched a Systems Integrator Program that will provide banks and billers the option of choosing from an extensive pool of professional technology companies that are trained on the MSFDC systems. Systems integrators will offer a variety of products and services including consulting, development, integration, Web-based design, support and ongoing maintenance. Seventeen nationally recognized solution providers are currently signed up with the Systems Integrator Program. For more information on MSFDC, visit its Web site at [www.msfdc.com].
About Princeton TeleCom Corporation
Founded in 1983, Princeton TeleCom is a leader in developing and operating electronic bill presentment and payment services for large corporate bill senders. The company’s core product, the els Electronic Lockbox Service(R), serves as a value-added payments network by routing transactions directly to billers’ accounts receivables host systems. The Company serves more than 700 national and large regional bill senders, and its Presentment Server(TM) technology currently houses more than 60 million receivables for Internet and telephone bill statement presentation and payment. Other clients of Princeton TeleCom’s electronic bill payment services include Lucent Technologies, Discover Card and Western Union.
For further information on Princeton TeleCom bill presentment systems and services, contact Princeton TeleCom Corporation, 165 Wall Street, Princeton, N.J. 05840; telephone 609-924-1244, or visit its Web site at [www.princetontele.com]