ENGLEWOOD, Colo., and CINCINNATI, July 17, 2000 — TransPoint LLC and Federated Department Stores Inc. today announced that more than 10 million customers of Macy’s, Bloomingdale’s, Burdines, Goldsmith’s, Lazarus, Rich’s and Stern’s department stores, which are divisions of Federated, can now receive and pay bills through the TransPoint™
online bill payment service.
Through the TransPoint service, Federated customers can view and pay bills that arrive electronically, pay bills online that arrive through U.S. mail and initiate a payment online to anyone with a U.S. mailing address. Customers can check the status of their e-bills and pending payments via their computers 24 hours a day, seven days a week. If more help is needed, the TransPoint service includes Web site support and a fully staffed customer service team.
“Federated has delivered to its customers an incredibly valuable and convenient online bill payment service,”
said Lewis Levin, president and CEO of TransPoint.
“The easy-to-use TransPoint service will enable Federated customers to more effectively manage their finances because they can now receive and pay their bills online with a few simple clicks of the 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 secure.
Currently, the TransPoint e-bills service is available to consumers through the MSN MoneyCentral™
online personal finance service ( www.moneycentral.msn.com ), TransPoint ( www.transpoint.com ), Prodigy Internet service ( www.prodigy.com ), the Go2Net Network ( www.go2net.com ), Compass Bank ( www.compassweb.com ) and InterWest Bank ( 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 a fast, easy way for consumers with Internet access to make all their payments online from a single, secure Web site.
On Feb. 15, 2000, 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 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. More information about TransPoint is available at www.transpoint.com.
About Federated Department Stores
Federated, with corporate offices in Cincinnati and New York, is one of the nation’s leading department store retailers with annual sales of more than $17.3 billion. Federated currently operates more than 400 department stores in 33 states under the names of Bloomingdale’s, The Bon Marche, Burdines, Goldsmith’s, Lazarus, Macy’s, Rich’s and Stern’s. Federated also operates the Fingerhut, Bloomingdale’s By Mail, Macy’s By Mail and Macys.com direct-to-consumer catalog and electronic commerce subsidiaries.
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.
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