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BillMatrix Corporation Collaborates with NYCE
to Bring Real Time Bill Payment Capabilities to NYCE Network Financial Institutions
and Their Cardholders
Dallas, Texas (09/16/02) - BillMatrix Corporation announced today it has certified
as the first bill payment processor to the NYCE Network’s Enhanced Message Structure
(EMS) specification. This certification enables BillMatrix to provide electronic
bill payment capabilities to a potential universe of 52 million cardholders at
more than 2,200 NYCE financial institutions (Participants). As NYCE Participants
complete EMS certification, their cardholders will be eligible to pay bills directly
to billers that utilize BillMatrix’s automated payment system. These payments
can be made conveniently via the telephone or the Internet.
“We recently modified our infrastructure to enable new types of transactions –
such as bill payments – to flow through our real-time switch for the purpose of
bringing our Participants more revenue generating opportunities and enhancing
their customer retention efforts, ” said James S. Judd, Senior Vice President
with NYCE. “BillMatrix’ decision to enable this consumer preferred payment instrument
underscores the value our Participants can derive from this solution, which can
displace check and cash bill payments.”
Utilizing BillMatrix’s automated payment system, NYCE Participants’ cardholders
will be able to initiate payments to service providers, such as utilities, insurance
companies, financial services, or local and long distance telephone service providers.
Participating billing companies realize the benefits of accelerated cash flow,
elimination of return items, and same day, real-time posting of consumer payments.
Customer payment information is collected by BillMatrix and routed to NYCE. NYCE
switches the transaction, settling the funds between the customer's financial
institution and biller. BillMatrix then updates the consumer’s account with the
biller in real-time or by batch processing. The respective debit appears on the
cardholder's account statement in the normal course of transaction reporting.
"We are excited to be working with NYCE and its Participants in extending the
convenience of telephone and Internet bill payments to their cardholders," said
Scott Walker, President and CEO of BillMatrix. "By allowing consumers the opportunity
to pay bills with a NYCE-branded ATM/debit card in real-time, we have extended
additional flexibility to the consumer to determine when, how, and where they
pay their bills.”
ABOUT BILLMATRIX CORPORATION
BillMatrix Corporation provides automated bill payment solutions via the Internet
and telephone using a variety of credit card, ATM card, and electronic check payment
options. Founded in 1994 and headquartered in Dallas, BillMatrix includes some
of the United States' largest cellular, utility, insurance, and financial services
companies as customers. Consumers are able to pay bills at their convenience using
their choice of payment options in a private and secure manner. For more information,
visit www.BillMatrix.com or call (800)
596-0221.
ABOUT NYCE CORPORATION
NYCE Corporation is one of the leading electronic payments companies in the United
States, providing financial institutions and retailers with shared network services
for automated teller machines (ATMs), on-line debit point-of-sale (POS) and emerging
real-time payment solutions. In addition to innovative product development, the
company also provides processing services that support ATM management and monitoring
services, debit card issuance and authorization solutions. NYCE's strategic alliance
with First Data Corporation (FDC) is a unique model for the industry that combines
the strengths of both organizations through product development, service delivery
and complementary national/international reach. Comprising 2,200 financial institutions
and retail ATM Participants, NYCE processes approximately 100 million transactions
per month. NYCE Corporation is headquartered in Woodcliff Lake, NJ, and can be
found online at www.nyce.net.
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