ENGLEWOOD, Colo., Oct. 4, 1999 — TransPoint LLC today announced that customers of MCI WorldCom Inc., Mobil Oil Corp. and GTE can now begin receiving and paying their bills immediately online through the TransPoint TM service at http://www.transpoint.com/ . TransPoint e-bills allow customers to view their entire bill on the Internet, then pay it securely and reliably with just a click of the mouse.
In addition, the following companies are scheduled to go live with TransPoint by year-end: Time Warner Communications Mid-South Division, Central Hudson Gas & Electric Corp., Denver Water and West Texas Utilities Co. (a division of Central and South West Corp.).
“This is a giant leap forward not only for TransPoint, but for the entire industry,”
said Lewis Levin, president and CEO of TransPoint.
“E-billing is rapidly making headway in the marketplace, and we are excited for consumers to begin to realize the ease and convenience our service provides.”
“Our customers look to us for services that make their lives easier,”
said Lenn Eason, card business manager of Mobil Oil Corp.
“TransPoint’s technology provides the convenience and security they want. Working with TransPoint allows us to offer our customers the perfect solution for today’s hurried lifestyle.”
TransPoint securely and reliably delivers richly formatted bills, statements and notices, complete with interactive advertising and marketing messages, to any online consumer with Internet access and a secure Web browser, and then returns payment and related information to the company or the company’s financial institution. TransPoint’s unique, round-trip approach on the Internet essentially replaces the function of a post office in communicating billing information between companies, their customers and their respective financial institutions. Companies benefit from powerful, targeted marketing; greater control over the billing process; and personalized customer care. Their customers benefit from a free, easy and convenient service that is fast, flexible and safe.
“Offering e-bills was a critical decision for us and our customers. So naturally, deciding on a service provider was equally important,”
said Joseph Donaghy, director of e-commerce, PECO Energy, one of the first companies to go live with the TransPoint e-bills service.
“TransPoint’s technology and customer focus is second to none – we know our customers will save time without writing checks, buying stamps or making sure the check gets in the mail. This is an option we believe our customers will embrace.”
Recent studies by Jupiter Communications reflect the anticipated growth for the industry. Jupiter estimates that the number of consumer bills delivered online will reach 130 million this year. Jupiter predicts that by 2003 U.S. households will receive 2 trillion recurring monthly bills electronically.
“We expect other major national and significant local companies to join the service next year,”
“You’ll see more telcos, more electric and gas utilities, more cable companies, major credit cards, major retailers and companies from a broad array of industries.”
Currently, the TransPoint e-bills service is available to consumers free of charge through the MSN.com TM MoneyCentral TM personal finance online service at http://www.moneycentral.MSN.com/home.asp and the TransPoint Web site at http://www.transpoint.com/ . More than 40 companies are in various stages of implementing TransPoint e-bills, and more than 15 are expected to begin offering the service to their customers in the next few months.
TransPoint, established in June 1997, is a joint venture of Microsoft Corp. and First Data Corp., with Citibank as a minority equity investor. TransPoint is a leader in the emerging Internet bill delivery and payment (IBDP) industry with a completely new, seamless e-bills service built from the ground up. The TransPoint system uses innovative technology and integrates easily with billers’ and banks’ existing payment systems. Launched commercially in April 1999, the TransPoint service allows consumers to view and pay their bills at multiple Internet locations, including MSN.com MoneyCentral and directly through the TransPoint Web site. TransPoint e-bills are also scheduled to be available at the Web sites of many leading financial institutions in the coming months. TransPoint is based in Englewood, Colo. More information about e-bills is available at http://www.transpoint.com/ .
TransPoint is an exclusive U.S. trademark of TransPoint LLC. Microsoft, MSN.com and MoneyCentral are either registered trademarks or trademarks of Microsoft Corp. in the United States and/or other countries.
Other product and company names herein may be trademarks of their respective owners.
For more information, press only:
Barb Hemberger, Shandwick for TransPoint, (612) 841-6232, firstname.lastname@example.org
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Note to editors: If you are interested in viewing additional information on Microsoft, please visit the Microsoft Web page at http://www.microsoft.com/presspass/ on Microsoft’s corporate information pages.