ENGLEWOOD, Colo., and STAMFORD, Conn., March 1, 2000 — TransPoint LLC and GE Capital today announced that GE Card Services, a company of GE Capital, is now offering the TransPoint TM e-bills service to its customers. As part of the agreement, GE Capital will act as a reseller of the TransPoint e-bills service. On Jan. 26, 2000, the Exxon credit card was the first GE Card Services portfolio to be brought live on TransPoint’s e-bills service.
“TransPoint’s system will help us provide a valuable new service in response to our clients’ emerging online needs,”
said Michael Bucheit, vice president of E-Commerce at GE Card Services.
Through TransPoint’s online payment service, consumers can view and pay bills that arrive electronically through TransPoint, pay bills that arrive through the U.S. Postal Service, and pay nearly anyone else. With one fully integrated and convenient service, consumers with Internet access and a secure Web browser can pay all of their bills with a few clicks of a mouse. Companies that deliver bills electronically through TransPoint benefit from targeted marketing, greater control over the billing process, and personalized customer care. Their customers benefit from an easy, convenient service that is fast, flexible and credit-secured.
“By enhancing the consumer experience, TransPoint e-bills enable GE Card Services to strengthen its customers’ relationships at multiple levels,”
said Ralph Young, executive vice president, TransPoint.
“This agreement is a strong indication of the rapid growth TransPoint and the industry will experience this year.”
Currently, the TransPoint e-bills service is available to consumers through the MSN MoneyCentral online personal finance service at http://www.moneycentral.msn.com/ , the TransPoint Web site at http://www.transpoint.com/ , the Compass Bank Web site at http://www.compassweb.com/ , and the InterWest Bank Web site at http://www.interwestbank.com/ .
About GE Capital and Card Services
With assets of more than $345 billion (U.S.), GE Capital is a global, diversified financial services company with 28 specialized businesses. A wholly owned subsidiary of General Electric Co., GE Capital, based in Stamford, Conn., provides equipment management, midmarket and specialized financing, specialty insurance, and a variety of consumer services, such as car leasing, home mortgages and credit cards, to businesses and individuals around the world. GE is a diversified manufacturing, technology and services company with operations worldwide.
GE Card Services is a leader in providing credit services to retailers and consumers. Formed in 1932 as a provider of consumer financing for GE Appliances, Card Services provides private-label credit cards, commercial programs and card-related financial services for hundreds of retailers and manufacturers across North America. Card Services also issues and services corporate cards for commercial customers, including purchasing, travel and fleet vehicle cards. Card Services offers clients a full range of operational, financial and analytic support, and develops customized marketing programs designed to increase sales and customer loyalty.
TransPoint, established in June 1997, is a joint venture of Microsoft Corp. and First Data Corp., with Citibank as a minority equity investor. Englewood, Colo.-based TransPoint is a leader in the emerging electronic bill presentment and payment (EBPP) industry with a 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. The TransPoint service is designed to be the fast, easy way for consumers with Internet access to make all of their payments online from a single, secure Web site. Consumers can pay their bills at multiple Internet locations, including the MSN MoneyCentral personal finance online service, the TransPoint Web site, and at the Web sites of participating financial institutions. On Feb. 15, TransPoint entered into a definitive merger agreement with CheckFree Corp., a leader in electronic billing and payment. The combined technologies and relationships of the two entities are expected to accelerate moving the billing and payment process from paper to the Internet and to advance the rate at which consumers sign up for electronic billing. The transaction will be accounted for as a purchase by CheckFree and is expected to be final in four to six months. More information about TransPoint is available at http://www.transpoint.com/ .
TransPoint is an exclusive U.S. trademark of TransPoint.
The names of actual companies and products mentioned herein may be the trademarks of their respective owners.
If you are interested in viewing additional information on First Data, please visit the First Data Web page at http://www.firstdatacorp.com/ .
If you are interested in viewing additional information on Citibank, please visit the Citibank Web page at http://www.citibank.com/ .
If you are interested in viewing additional information on GE Capital, please visit the GE Capital Web page at http://www.gecapital.com/ .