CKFR Checkfree Corp (MM)

CheckFree Supports ACH Globalization with PEP+ Software Platform - PEP+ Processing Platform Enhanced to Allow Users To Access Federal Reserve's International Services - ATLANTA and ORLANDO, Fla., Nov. 3 /PRNewswire-FirstCall/ -- AFP Annual Conference Booth #101 -- CheckFree ACH Solutions, a business unit of CheckFree Corporation , today announced it has successfully developed and implemented enhancements to its PEP+ system, the premier Automated Clearinghouse (ACH) processing platform among leading financial institutions, that will allow financial institutions to originate and receive international payments through the Federal Reserve's new international services. Earlier this year, the Federal Reserve announced that it would support the origination and receipt of credit items between the United States and select European countries beginning November 3, 2003. The Federal Reserve's service, called the Transatlantic LPI (Limited Production Implementation), will enable ACH transactions to be processed between U.S. banks and financial institutions in Austria, Germany, the Netherlands, Switzerland and the United Kingdom. A similar service is currently planned for late 2004 that will enable payments to be processed to and from Mexico. By implementing this solution, account holders at banks that use this enhancement will be able to originate and receive credit transactions with countries that are participating in the Transatlantic LPI. This process will play an increasing role as businesses and consumers look for more economic and efficient means to pay for goods and services overseas. "The Federal Reserve strongly supports the concept of expanding cross border retail payments services through the ACH network," stated Rich Oliver, retail payments product manager for the Federal Reserve. "We deeply appreciate the leadership of vendors, such as CheckFree, in helping to achieve this vision." "The Federal Reserve has done an excellent job of anticipating the needs of payment systems participants," adds Denny Oswalt, senior vice president and general manager of CheckFree's ACH Solutions business unit. "Previously, wire transfer was the primary means for making international payments and proved costly for many types of transactions. Working with representatives of the Federal Reserve Bank, CheckFree has enabled various stakeholders to benefit from a new effective and efficient means for paying international trading partners." About CheckFree (http://www.checkfreecorp.com/) CheckFree (NASDAQ:CKFR) is the leading provider of financial electronic commerce services and products. Founded in 1981 and celebrating its 23rd year in e-commerce, CheckFree is comprised of three divisions: Electronic Commerce, Software, and Investment Services. CheckFree launched the first fully integrated electronic billing and payment solution in 1997. In the quarter ended September 30, 2003, more than 11 million consumers initiated online payments through services offered by CheckFree's Electronic Commerce division. Electronic billing and payment is available through more than a thousand financial services organizations, including banks, brokerage firms, Internet portals and personal financial management (PFM) software. At these sites, consumers are able to electronically receive and pay about 300 bills, representing the bills most common to a U.S. household. CheckFree delivers nearly 15 million e-bills each quarter. CheckFree Investment Services provides a broad range of investment management services to thousands of financial institutions nationwide. The division's clients manage more than 1.3 million portfolios totaling more than $700 billion in assets. CheckFree's Software division provides solutions through three operating units: CheckFree ACH Solutions, CheckFree Financial and Compliance Solutions (CFACS), and CheckFree i-Solutions. CheckFree ACH Solutions provides software and services that are used to process more than two-thirds of the nation's nine billion Automated Clearing House payments, while CFACS provides reconciliation and compliance software and services to more than 500 organizations in the banking, brokerage, utility, retail, insurance and credit card industries, among others. CheckFree i-Solutions is the leading provider of e-billing and e-statement software and services for both business-to- consumer and business-to-business applications, with more billers as clients than all of its competitors have combined. 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 Company's Form 10-K for the year ended June 30, 2003 (filed September 15, 2003) and Form 8-K (filed October 21, 2003). There can be no assurance that the forward-looking statements made in this document 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 Web site: http://www.checkfreecorp.com/ Company News On-Call: http://www.prnewswire.com/comp/110744.html

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