BillMatrix First to Offer ATM Cards for Mortgage Payments

DALLAS, Texas – March 15, 2004 – BillMatrix Corporation, a provider of outsourced telephone and Internet-based recurring payment services, announced today the first program to utilize the ATM electronic funds networks for mortgage payments taken over the telephone and the Internet on a PIN-less basis. This service was recently implemented with a major mortgage service provider with a national customer base. BillMatrix’ mortgage client was looking to accelerate cash flow and provide customers with a convenient, secure means to make payments. Leveraging the rapidly increasing consumer use of debit cards for utility, insurance and other bills was a natural extension of the mortgage servicer’s automatic recurring ACH service. Consumer acceptance of this method has been obvious as usage rates have increased rapidly in just the first few months.

Competitive conditions have placed a premium on expanded payment options in the mortgage industry. Responding to these evolving consumer requirements, a mortgage servicer can take advantage of an ATM/debit card feature that virtually eliminates returned items. With an ATM/debit transaction, the BillMatrix system validates that funds are available in the account for the payment in real-time and assigns those funds to the mortgage servicer. When combined with an ACH/electronic check option, a true competitive advantage is created for the companies that adopt this integrated, outsourced service.

“We looked for a client that had an immediate understanding of how the ATM option provides faster, more certain funds, and found the right partner to initiate this important advance for the mortgage industry,” said Jerry Portocalis, SVP of sales and marketing for BillMatrix. “The outsourced service was implemented in a very short period of time and with minimal internal investment. We are well prepared to bring this same innovation to the mortgage industry as a whole.”

About BillMatrix Corporation
BillMatrix Corporation provides outsourced payment services for the nation’s largest companies using the latest automated consumer interface technologies. Founded in 1994 and headquartered in Dallas, BillMatrix works with corporations in the telecommunications, utility, insurance, mortgage and financial services industries to replace expensive, paper-based methods of remittance with a set of convenient, labor- and cost-saving electronic transactions. Consumers are able to make payments in a private and secure manner, via the Internet and telephone, using a variety of credit card, ATM/debit card, and electronic check payment options. BillMatrix maintains a fully staffed customer service organization to support both its clients and their consumers with any payment issues. For more information, visit www.BillMatrix.com or call (800) 596-0221.