CheckFree and nuBridges Launch Upgraded Secure Download Remittance Solution to Enable Efficient Electronic Payment Processing fo
29 Janeiro 2007 - 12:39PM
PR Newswire (US)
CheckFree utilizes the nuBridges truExchange platform to speed
financial processing ATLANTA, Jan. 29 /PRNewswire-FirstCall/ --
CheckFree Corporation (NASDAQ:CKFR) today announced the release of
an upgraded download remittance service, a tailored solution that
enables small and medium-sized merchants to receive and manage
electronic payment remittances that originate from within the
CheckFree network of more than 2,000 financial institutions. The
CheckFree solution, built and powered by eBusiness software
provider nuBridges, improves the efficiency of electronic bill
payment remittances for small and medium- sized merchants by
automating processing activities that have historically required at
least some manual intervention. The CheckFree download remittance
service, introduced in 2005, is currently used by merchants to
collectively receive more than 400,000 electronic remittances each
month, which equates to more than 4.8 million remittances per year.
Upgrades to the existing service were based upon current user
feedback, and include enhanced reporting capabilities, the ability
to search up to 14 months of payment history and the ability to
download payment details in multiple formats. Millions of consumers
pay bills online through their bank, brokerage or credit union each
month, generating a substantial volume of electronic payments that
must move from the consumer's financial institution to the business
being paid. Frequently, smaller merchants are not equipped to
accept remittances electronically, necessitating the creation of a
paper check for payment despite the fact that the consumer paid
electronically. The CheckFree download remittance service provides
merchants with the ability to receive secure electronic ACH
deposits directly into their company's bank account, and provides
comprehensive payment details that make it easy to reconcile
payments with customer accounts. The nuBridges truExchange
platform, coupled with nuBridges Collaboration Hub product,
facilitates the flow of remittance details to merchants, allowing
them to securely access and download deposit information and manage
payment processing status through a password-protected online
account. Merchants who implement the download remittance service
from CheckFree have the potential to recognize direct financial
benefits resulting from: * Reduced exception management and claim
costs as a result of accurate and timely posting of receivables, *
Reduced processing costs and banking fees as a result of fewer
paper checks, * Increased investment income due to a streamlined
cash flow, * Fewer customer service calls as a result of improved
customer relationships. "Small and medium-sized businesses now have
the ability to eliminate more paper payments and use the same tools
as large businesses to take advantage of the convenience and
efficiency of end-to-end online remittance management," said Mark
Critchett, vice president of product management within CheckFree's
electronic commerce division. "CheckFree's download remittance
service allows merchants to receive funds faster and with fewer
exceptions, which makes a significant impact on their bottom line.
Electronic remittance also results in improved payment speed for a
merchant's customers - allowing them to schedule a payment at the
last minute that can still be processed before the due date."
"nuBridges truExchange platform was built for high-volume, secure
information exchange," said Paul Lockart, chief operating officer
with nuBridges. "We're excited that our technology can be used to
reinforce CheckFree's already strong relationship with merchants -
regardless of the merchant's size or technical resources. It's a
practical solution for everyone involved." About nuBridges
nuBridges provides eBusiness software and services for thousands of
manufacturers, wholesalers, retailers, utilities, and financial
services firms worldwide. From secure connectivity to complete
online collaboration, nuBridges is the practical path to eBusiness
for trading partners of all sizes and technical levels. For more
information on nuBridges, visit http://www.nubridges.com/. About
CheckFree (http://www.checkfreecorp.com/) Founded in 1981,
CheckFree Corporation (NASDAQ:CKFR) provides financial electronic
commerce services and products to organizations around the world.
CheckFree Electronic Commerce solutions enable thousands of
financial services providers and billers to offer the convenience
of receiving and paying household bills online, via phone or in
person through retail outlets. CheckFree Investment Services
provides a broad range of investment management solutions and
outsourced services to hundreds of financial services
organizations, which manage about $1.5 trillion in assets.
CheckFree Software develops, markets and supports payment
processing solutions that are used by financial institutions to
process more than two-thirds of the 14 billion Automated Clearing
House transactions in the United States, and supports
reconciliation, exception management, risk management, transaction
process management, corporate actions processing, and compliance
within thousands of organizations worldwide. Certain of the
Company's statements in this press release are not purely
historical, and as such are "forward-looking statements" within the
meaning of the Private Securities Litigation Reform Act of 1995.
These include statements regarding management's intentions, plans,
beliefs, expectations or projections of the future. Forward-looking
statements involve risks and uncertainties, including without
limitation, the various risks inherent in the Company's business,
and other risks and uncertainties detailed from time to time in the
Company's periodic reports filed with the Securities and Exchange
Commission, including the Company's Annual Report on Form 10-K for
the year ended June 30, 2006 (filed September 8, 2006) and Form
10-Q for the quarter ended September 30, 2006 (filed November 8,
2006). One or more of these factors have affected, and could in the
future affect the Company's business and financial results in
future periods, and could cause actual results to differ materially
from plans and projections. There can be no assurance that the
forward-looking statements made in this press release will prove to
be accurate, and issuance of such forward-looking statements should
not be regarded as a representation by the Company, or any other
person, that the objectives and plans of the Company will be
achieved. All forward-looking statements made in this press release
are based on information presently available to management, and the
Company assumes no obligation to update any forward-looking
statements. DATASOURCE: CheckFree Corporation CONTACT: Media, Judy
DeRango Wicks, +1-678-375-1595, or , or Investors, Tina Moore,
+1-678-375-1278, or , both of CheckFree Corporation; or Nate McNabb
of nuBridges, +1-770-730-3792, or Web site:
http://www.checkfreecorp.com/ http://www.nubridges.com/
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