Millions of Consumers Can Now Enjoy the Ease and Convenience of Making Online Payments From These Popular Internet Destination Sites
ENGLEWOOD, Colo., June 27, 2000 — TransPoint LLC today announced that subscribers to the Prodigy Internet service (Nasdaq
) and visitors to the Go2Net Network (Nasdaq
“GNET” ) can now pay all their bills easily with just a few clicks of a mouse through the TransPoint™
online bill payment service. The service allows customers to pay bills that arrive electronically through TransPoint, pay bills that are delivered via the U.S. mail, and pay anyone else with a U.S. mailing address — all from one Web site.
Millions of additional consumers can now securely and conveniently pay their bills through Prodigy and several leading Go2Net Network Internet properties including Go2Net.com, Dogpile, HyperMart and Silicon Investor.
Go2Net moved quickly to live status in just 30 days. Prodigy also implemented the service rapidly, offering the service to its customers in approximately 60 days.
“Prodigy and Go2Net recognized that electronic bill presentment and payment (EBPP) is an incredibly fast-growing market and placed top priority on implementing the TransPoint service,”
said Lewis Levin, president and CEO of TransPoint.
“The short time in which they went live is a testament to how efficiently the TransPoint implementation process can work.”
With Prodigy’s recent alliance with SBC Communications Inc. (NYSE
), the total managed customer base for Prodigy exceeds 2.4 million, sealing its position as one of the top four Internet service providers (ISPs) in the nation. Prodigy also is now the nation’s largest provider of retail digital subscriber line (DSL) high-speed broadband Internet access to consumers and small businesses.
Companies that deliver bills electronically through TransPoint benefit from greater control over the billing process, personalized online customer care, and targeted marketing to their customers right from within their electronic bill. Their customers benefit from an easy, convenient service that is fast, flexible and secure.
The TransPoint Standard Service will be offered to Prodigy members and Go2Net Network users free of charge for up to six months. The Standard Service allows users to pay up to 750 predefined local and national billers, companies that mail the majority of bills paid by consumers in the top 20 metropolitan areas across the nation. After the first six months, this service will cost $2.95 per month. A Premium Service will be offered free of charge for the first three months, after which it will be available for $5.95 per month. The Premium Service allows customers to pay all the bills defined in the Standard Service as well as use a Pay Anyone capability, which allows them to set up payments to any individual or company they choose within the United States. Full offer details can be found at http://www.transpoint.com/ .
Customers can check the status of their Prodigy or Go2Net online payment accounts via their computers 24 hours a day, seven days a week. If more help is needed, the TransPoint online payment service includes Web-based support and a toll-free support number with a fully staffed customer-service team, available free of charge 24 hours a day, seven days a week.
In addition to the Prodigy and Go2Net properties, the TransPoint service is also available 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/ .
TransPoint, established in June 1997, is a joint venture of Microsoft Corp. (Nasdaq
) 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 their payments online from a single, secure Web site. More information about TransPoint is available at http://www.transpoint.com/ .
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 the migration of 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 three to five months.
This announcement contains forward-looking statements that involve risks and uncertainties, including those relating to the company’s ability to grow its user and advertiser base. Actual results may differ materially from the results predicted, and reported results should not be considered as an indication of future performance. The potential risks and uncertainties include, among others, the company’s limited operating history; the competitive environment in which the company competes; the early stage of the Web as an advertising and electronic-commerce medium; the company’s dependence on advertising, sponsorship and commerce revenues; the company’s dependence on strategic relationships to drive traffic to its Web sites; consumer acceptance of the company’s new products and services; the company’s ability to develop and integrate new technologies and services into its existing services and into new platforms, such as broadband; and the increased use of the Web for commerce. More information about the potential factors that could affect the company’s business and financial results is included in the company’s Annual Report on Form 10-K for the year ended Sept. 30, 1999, which is on file with the Securities and Exchange Commission.
TransPoint is an exclusive U.S. trademark of TransPoint LLC.
The names of actual companies and products mentioned herein may be the trademarks of their respective owners.
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. 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/ .