PaymentVision Announces Release of Integrated Payments for Auto Master System

Self-Service Channels and Payment Processing Integration Reduce Collection Timeframes and Improve Efficiencies for Buy Here–Pay Here Dealers

NABD National Conference of Buy Here-Pay Here Dealers

Booth 332

GAITHERSBURG, Md.--(BUSINESS WIRE)--PaymentVision, an expert in electronic payment processing technology for the Buy Here-Pay Here (BHPH) industry, today announced the release and successful use of its fully integrated offering for AMS2000 by Auto Master, one of the leading providers of receivables management software for the auto loan servicing industry. C & G Imports, a BHPH dealer in Arlington, VA was among the first to implement the integrated solution.

“We believe this integration offers users a range of new features designed to streamline accounts receivables management processes and boost collection activity.”

"PaymentVision and Auto Master have taken what used to be a two-step process with a card terminal and made it a one-step simple process initiated from within my dealer management software,” Gavin Marks: President of C & G Imports.

BHPH dealers already rely on Auto Master for comprehensive Accounts Receivables Management, collector productivity tools and loan closing workflow. As a result, the Auto Master system provides the technical infrastructure vital for the self-financing dealer.

"By tightly integrating electronic payment processing with the core Auto Master System, we can help our dealers save five minutes in staff time per payment transaction," said Brian Hoppel, Vice President of Auto Master. "In addition, PaymentVision is able to support our clients with faster funding and a higher level of security."

PaymentVision security includes managing financial account data through the use of tokenization. With tokenization, financial account data is never stored on the dealer’s system. It is passed directly to PaymentVision where it is securely stored in a payment vault. PaymentVision, in turn, provides a randomly generated, totally unique ID number (the token) which can be used to initiate future payments using the same financial account information. The PaymentVision platform is PCI DSS Level 1 compliant, which is the highest level of compliance available.

Highlights of PaymentVision payment processing include:

• Reduced administrative overhead –the system takes care of posting payments;


• No hold, no reserve – PaymentVision’s flexible settlement options allow dealers to leverage their current banking relationships, eliminating hold requirements and accelerating funds receipt;


• PCI peace of mind – PaymentVision quickly reduces compliance overhead by eliminating the storage of sensitive financial account data from dealer systems;


• Increased collections through self-serve online and IVR phone payments.

"We are pleased to announce the availability of PaymentVision processing for Auto Master AMS2000, which will deliver their clients real-time authorization, faster funds and greater security," said Christopher McClinton: Vice President of Sales, PaymentVision. "We believe this integration offers users a range of new features designed to streamline accounts receivables management processes and boost collection activity."

PaymentVision will be exhibiting in Booth 332 at the 2010 NABD National Conference of Buy Here-Pay Here Dealers, Tuesday, May 11 - Thursday, May 13, in Las Vegas, Nevada.

About PaymentVision Gateway Svcs

PaymentVision is a biller direct electronic payment service provider and payment gateway that offers clients the ability to accept ACH and credit or debit card payments by phone or online. PaymentVision also partners with key software providers in targeted vertical markets to provide payment processing via the PayAPI, a SOAP-based XML web service. For more information, visitwww.paymentvision.com.

About Auto Master Systems

Auto Master Systems, Inc. has been the leader in software development for the BHPH community for over twenty years. They offer a product that encompasses all aspects of dealership and finance company operations ranging from credit scoring through accounting integration. Auto Master Systems prides itself on its ability to integrate with third party companies to offer the best and latest technology to its customers. For more information visit www.auto-master.com.

Contacts

PaymentVision

Sean Fleming, 240-361-1612

sfleming@autoscribe.com

Permalink: http://www.businesswire.com/news/home/20100511005476/en/PaymentVision-Announces-Release-Successful-Integrated-Electronic-Payments

PaymentVision Announces Release of Integrated Payments for Auto Master System

Self-Service Channels and Payment Processing Integration Reduce Collection Timeframes and Improve Efficiencies for Buy Here–Pay Here Dealers

NABD National Conference of Buy Here-Pay Here Dealers

Booth 332

GAITHERSBURG, Md.--(BUSINESS WIRE)--PaymentVision, an expert in electronic payment processing technology for the Buy Here-Pay Here (BHPH) industry, today announced the release and successful use of its fully integrated offering for AMS2000 by Auto Master, one of the leading providers of receivables management software for the auto loan servicing industry. C & G Imports, a BHPH dealer in Arlington, VA was among the first to implement the integrated solution.

“We believe this integration offers users a range of new features designed to streamline accounts receivables management processes and boost collection activity.”

"PaymentVision and Auto Master have taken what used to be a two-step process with a card terminal and made it a one-step simple process initiated from within my dealer management software,” Gavin Marks: President of C & G Imports.

BHPH dealers already rely on Auto Master for comprehensive Accounts Receivables Management, collector productivity tools and loan closing workflow. As a result, the Auto Master system provides the technical infrastructure vital for the self-financing dealer.

"By tightly integrating electronic payment processing with the core Auto Master System, we can help our dealers save five minutes in staff time per payment transaction," said Brian Hoppel, Vice President of Auto Master. "In addition, PaymentVision is able to support our clients with faster funding and a higher level of security."

PaymentVision security includes managing financial account data through the use of tokenization. With tokenization, financial account data is never stored on the dealer’s system. It is passed directly to PaymentVision where it is securely stored in a payment vault. PaymentVision, in turn, provides a randomly generated, totally unique ID number (the token) which can be used to initiate future payments using the same financial account information. The PaymentVision platform is PCI DSS Level 1 compliant, which is the highest level of compliance available.

Highlights of PaymentVision payment processing include:

• Reduced administrative overhead –the system takes care of posting payments;


• No hold, no reserve – PaymentVision’s flexible settlement options allow dealers to leverage their current banking relationships, eliminating hold requirements and accelerating funds receipt;


• PCI peace of mind – PaymentVision quickly reduces compliance overhead by eliminating the storage of sensitive financial account data from dealer systems;


• Increased collections through self-serve online and IVR phone payments.

"We are pleased to announce the availability of PaymentVision processing for Auto Master AMS2000, which will deliver their clients real-time authorization, faster funds and greater security," said Christopher McClinton: Vice President of Sales, PaymentVision. "We believe this integration offers users a range of new features designed to streamline accounts receivables management processes and boost collection activity."

PaymentVision will be exhibiting in Booth 332 at the 2010 NABD National Conference of Buy Here-Pay Here Dealers, Tuesday, May 11 - Thursday, May 13, in Las Vegas, Nevada.

About PaymentVision Gateway Svcs

PaymentVision is a biller direct electronic payment service provider and payment gateway that offers clients the ability to accept ACH and credit or debit card payments by phone or online. PaymentVision also partners with key software providers in targeted vertical markets to provide payment processing via the PayAPI, a SOAP-based XML web service. For more information, visitwww.paymentvision.com.

About Auto Master Systems

Auto Master Systems, Inc. has been the leader in software development for the BHPH community for over twenty years. They offer a product that encompasses all aspects of dealership and finance company operations ranging from credit scoring through accounting integration. Auto Master Systems prides itself on its ability to integrate with third party companies to offer the best and latest technology to its customers. For more information visit www.auto-master.com.

Contacts

PaymentVision

Sean Fleming, 240-361-1612

sfleming@autoscribe.com

Permalink: http://www.businesswire.com/news/home/20100511005476/en/PaymentVision-Announces-Release-Successful-Integrated-Electronic-Payments

Yodlee to Provide Solutions to Amazon Payments to Simplify Bank Account Verification

Yodlee AccountVerification(TM) Now Being Utilized by Amazon Payments

REDWOOD CITY, Calif., May 11 /PRNewswire/ --Yodlee, Inc., a leading provider of personal financial management (PFM) and revenue-generating payments solutions, today announced that Amazon Payments, Inc., has implemented Yodlee's InstantAccountVerification™ technology into www.amazonpayments.com to simplify how customers add and verify bank accounts to their Amazon Payments accounts.

Amazon Payments provides consumers, merchants, and developers the simple way to pay and get paid online or through a mobile device. Amazon Payments enables consumers to send and receive payments for goods or services by using the payment methods already associated with their Amazon.com accounts. Customers enjoy the same trusted payment experience available on Amazon.com at Amazon Payments accepting merchants, including Amazon's proven fraud detection and risk management capabilities.

"Traditional verification methods don't take into account the customer's expectation of speed and immediacy when they transact online," said Baris Cetinok, director, Amazon Payments.  "Yodlee Account Verification confirms the ownership of a consumer's bank account in real time, adding a required layer of validation without slowing down the process.  This helps Amazon Payments deliver on our commitment to a great customer experience."

Yodlee's patented account verification technology verifies a person's account information, ownership, and balance in real-time. Over the past 10 years, Yodlee has verified more than 15 million consumer accounts, reducing both abandonment and potential fraud in those online transactions, which include new account openings, funds transfers, purchases, and person-to-person (P2P) transactions.  

"Our account verification fits seamlessly into the transaction and payment process to quickly verify credentials without disrupting the user flow," said Peter Hazlehurst, SVP of Products at Yodlee.

About Yodlee

Leading financial institutions and portals trust Yodlee to power critical online banking applications that increase profitability and drive more value from the online channel. Yodlee's proven personal financial management, payments, and customer acquisition solutions unify all personal financial account information to deliver a simple, centralized and secure way for consumers to manage all of their financial tasks anytime, anywhere. Yodlee makes financial institutions' websites essential to their customers and generates new deposit and revenue opportunities. Yodlee's patented data, payments and risk management utility supports more than 11,000 account sources and over 100,000 different account types. More than 100 leading financial institutions and portals offer Yodlee-powered solutions to millions of customers worldwide. Yodlee is headquartered in Redwood City, California. For more information, visit www.yodlee.com.

Yodlee is a registered trademark of Yodlee, Inc. All other products and services mentioned are the property of their respective owners.

SOURCE Yodlee, Inc.

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RELATED LINKS

http://www.yodlee.com

Yodlee to Provide Solutions to Amazon Payments to Simplify Bank Account Verification

Yodlee AccountVerification(TM) Now Being Utilized by Amazon Payments

REDWOOD CITY, Calif., May 11 /PRNewswire/ --Yodlee, Inc., a leading provider of personal financial management (PFM) and revenue-generating payments solutions, today announced that Amazon Payments, Inc., has implemented Yodlee's InstantAccountVerification™ technology into www.amazonpayments.com to simplify how customers add and verify bank accounts to their Amazon Payments accounts.

Amazon Payments provides consumers, merchants, and developers the simple way to pay and get paid online or through a mobile device. Amazon Payments enables consumers to send and receive payments for goods or services by using the payment methods already associated with their Amazon.com accounts. Customers enjoy the same trusted payment experience available on Amazon.com at Amazon Payments accepting merchants, including Amazon's proven fraud detection and risk management capabilities.

"Traditional verification methods don't take into account the customer's expectation of speed and immediacy when they transact online," said Baris Cetinok, director, Amazon Payments.  "Yodlee Account Verification confirms the ownership of a consumer's bank account in real time, adding a required layer of validation without slowing down the process.  This helps Amazon Payments deliver on our commitment to a great customer experience."

Yodlee's patented account verification technology verifies a person's account information, ownership, and balance in real-time. Over the past 10 years, Yodlee has verified more than 15 million consumer accounts, reducing both abandonment and potential fraud in those online transactions, which include new account openings, funds transfers, purchases, and person-to-person (P2P) transactions.  

"Our account verification fits seamlessly into the transaction and payment process to quickly verify credentials without disrupting the user flow," said Peter Hazlehurst, SVP of Products at Yodlee.

About Yodlee

Leading financial institutions and portals trust Yodlee to power critical online banking applications that increase profitability and drive more value from the online channel. Yodlee's proven personal financial management, payments, and customer acquisition solutions unify all personal financial account information to deliver a simple, centralized and secure way for consumers to manage all of their financial tasks anytime, anywhere. Yodlee makes financial institutions' websites essential to their customers and generates new deposit and revenue opportunities. Yodlee's patented data, payments and risk management utility supports more than 11,000 account sources and over 100,000 different account types. More than 100 leading financial institutions and portals offer Yodlee-powered solutions to millions of customers worldwide. Yodlee is headquartered in Redwood City, California. For more information, visit www.yodlee.com.

Yodlee is a registered trademark of Yodlee, Inc. All other products and services mentioned are the property of their respective owners.

SOURCE Yodlee, Inc.

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RELATED LINKS

http://www.yodlee.com

Correction From Mazooma on Yesterday's Press Release

MIAMI BEACH, FLORIDA--(Marketwire - May 10, 2010) - A correction from source is being issued with respect to the release sent out yesterday, May 10, 2010 at 10:00 AM EDT. The corrected version follows.

Mazooma, the first real-time online debit solution for U.S. consumers, is pleased to announce that Sonic Electronix, a leader in online car audio and video electronics, will offer real-time debit for their customer base.

Sonic Electronix carries more than 7,500 car stereo and other consumer electronics products and has been servicing US consumers through their online store for nearly 10 years. 100% web-based, Sonic Electronix relies heavily on best of class products and partners to drive business growth. Mazooma's patented solution was chosen for its ability to allow a customer to pay, in real time, directly from their bank account. No waiting period or offline sign up process is necessary.

"Given current economic conditions and the state of credit today, it is critical that we provide to our customers a way to pay with cash and in real time. Instant fulfillment is an essential component of our customer service philosophy and Mazooma provides an intuitive and easy option that just works", says Nathaniel J. Victor, Founder and CEO, Sonic Electronix. "Mazooma supports our need for new customer acquisition and customer retention."

Mazooma allows customers to pay for goods and services in real-time directly through their online banking in a simple, convenient and secure process. Consumers no longer have to rely on credit when making purchases online and have the comfort and security of paying directly from their own bank, the Financial Institution they know and trust. 

Sonic Electronix is enabling the Mazooma payment option through Cardinal Centinel^®, the leading technology platform for enabling alternative payment brands in both ecommerce and mobile Commerce, from Cleveland-based CardinalCommerce Corporation.

"Sonic Electronix is a trusted name in online car audio and video products," said Paul Phillipson, Managing Director USA at Mazooma. "We're very pleased Mazooma is now available to Sonic Electronix customers. Our real-time, closed-loop debit solution provides a superior experience for the consumer and immediate product fulfillment for Sonic Electronix."

About Mazooma

Mazooma provides consumers with a safe, instant way to make purchases online directly from their bank accounts. By combining the security and comfort of online banking with a speedy and simple payment check-out process, Mazooma offers a secure, easy-to-use solution for millions of consumers who cannot or do not want to use a credit card. Payment for online purchases is made directly from the customer's own bank account – and authorized through the financial institutions they know and trust. For online merchants, Mazooma creates a new way to reach more customers, increase revenue and reduce the cost of payment processing. For more information, visit www.mazooma.com.

About Sonic Electronix

Sonic Electronix is a fast-growing internet retailer specializing in consumer electronics, with a focus on car audio. The company has been part of the Internet Retailer Top 500 Guide since 2008 and has shipped more than 500,000 orders since its inception in 2000. Its goal has always been to delight customers by offering them the best buying experience possible – great prices without sacrificing service or quality. For more information about Sonic Electronix, please visitwww.sonicelectronix.com.

About CardinalCommerce

CardinalCommerce Corporation is the global leader in enabling authenticated payments, secure transactions and alternative payment brands for both eCommerce and mobile commerce. Cardinal Centinel^®* enables payment brands such as Verified by Visa, MasterCard^®SecureCode^™, PayPal^™, Bill Me Later^®, Mazooma^™, and more to a network of thousands of merchants and merchant service providers. Cardinal's mobile platform, Cardinal MAX^™, makes it easy for merchants to sell through the mobile channel by linking them directly with consumer mobile phones. Cardinal's proprietary and easily deployable technology provides consumers, merchants, credit/debit card issuers, and processors with the ability to conduct authenticated Internet, wireless, and mobile transactions safely and securely. Headquartered in Cleveland, Ohio, with facilities in the United States, Europe, and Africa, Cardinal services a worldwide customer base. For more information, visit www.cardinalcommerce.com.

Correction From Mazooma on Yesterday's Press Release

MIAMI BEACH, FLORIDA--(Marketwire - May 10, 2010) - A correction from source is being issued with respect to the release sent out yesterday, May 10, 2010 at 10:00 AM EDT. The corrected version follows.

Mazooma, the first real-time online debit solution for U.S. consumers, is pleased to announce that Sonic Electronix, a leader in online car audio and video electronics, will offer real-time debit for their customer base.

Sonic Electronix carries more than 7,500 car stereo and other consumer electronics products and has been servicing US consumers through their online store for nearly 10 years. 100% web-based, Sonic Electronix relies heavily on best of class products and partners to drive business growth. Mazooma's patented solution was chosen for its ability to allow a customer to pay, in real time, directly from their bank account. No waiting period or offline sign up process is necessary.

"Given current economic conditions and the state of credit today, it is critical that we provide to our customers a way to pay with cash and in real time. Instant fulfillment is an essential component of our customer service philosophy and Mazooma provides an intuitive and easy option that just works", says Nathaniel J. Victor, Founder and CEO, Sonic Electronix. "Mazooma supports our need for new customer acquisition and customer retention."

Mazooma allows customers to pay for goods and services in real-time directly through their online banking in a simple, convenient and secure process. Consumers no longer have to rely on credit when making purchases online and have the comfort and security of paying directly from their own bank, the Financial Institution they know and trust. 

Sonic Electronix is enabling the Mazooma payment option through Cardinal Centinel^®, the leading technology platform for enabling alternative payment brands in both ecommerce and mobile Commerce, from Cleveland-based CardinalCommerce Corporation.

"Sonic Electronix is a trusted name in online car audio and video products," said Paul Phillipson, Managing Director USA at Mazooma. "We're very pleased Mazooma is now available to Sonic Electronix customers. Our real-time, closed-loop debit solution provides a superior experience for the consumer and immediate product fulfillment for Sonic Electronix."

About Mazooma

Mazooma provides consumers with a safe, instant way to make purchases online directly from their bank accounts. By combining the security and comfort of online banking with a speedy and simple payment check-out process, Mazooma offers a secure, easy-to-use solution for millions of consumers who cannot or do not want to use a credit card. Payment for online purchases is made directly from the customer's own bank account – and authorized through the financial institutions they know and trust. For online merchants, Mazooma creates a new way to reach more customers, increase revenue and reduce the cost of payment processing. For more information, visit www.mazooma.com.

About Sonic Electronix

Sonic Electronix is a fast-growing internet retailer specializing in consumer electronics, with a focus on car audio. The company has been part of the Internet Retailer Top 500 Guide since 2008 and has shipped more than 500,000 orders since its inception in 2000. Its goal has always been to delight customers by offering them the best buying experience possible – great prices without sacrificing service or quality. For more information about Sonic Electronix, please visitwww.sonicelectronix.com.

About CardinalCommerce

CardinalCommerce Corporation is the global leader in enabling authenticated payments, secure transactions and alternative payment brands for both eCommerce and mobile commerce. Cardinal Centinel^®* enables payment brands such as Verified by Visa, MasterCard^®SecureCode^™, PayPal^™, Bill Me Later^®, Mazooma^™, and more to a network of thousands of merchants and merchant service providers. Cardinal's mobile platform, Cardinal MAX^™, makes it easy for merchants to sell through the mobile channel by linking them directly with consumer mobile phones. Cardinal's proprietary and easily deployable technology provides consumers, merchants, credit/debit card issuers, and processors with the ability to conduct authenticated Internet, wireless, and mobile transactions safely and securely. Headquartered in Cleveland, Ohio, with facilities in the United States, Europe, and Africa, Cardinal services a worldwide customer base. For more information, visit www.cardinalcommerce.com.

Celent Launches Research Partnership with CUNA

Celent

New York, NY, USA

May 11, 2010

Celent Launches Research Partnership with the Credit Union National Association

Celent, a Boston-based financial research and consulting firm, announces a partnership agreement with the Credit Union National Association (CUNA), the premier national trade association serving credit unions. The relationship extends Celent’s footprint into the credit union market, providing CUNA’s affiliated credit unions with access to Celent’s research at reduced rates.



“There’s demand for high-quality business strategy and technology information. CUNA looked at a number of providers in the financial services research space and found that Celent stood out above the rest, in terms of the combination of its industry presence, credibility and expertise; the applicability of their information; and their willingness to work with us on a pricing model that would greatly benefit our affiliated credit unions,” says Doug Benzine, CUNA’s Vice President of Business Publishing.



"Celent has found that credit unions tend to be at the leading edge of use of technology and customer centricity," says Bart Narter, Senior Vice President of Celent’s Banking Group. "Working together with CUNA will help us and CUNA better understand best practices for FIs in these areas."



For additional information on Celent’s services, please contact Steve Nawrocki at snawrocki@celent.com or +1.617.262.3128 or visit http://www.celent.com/2734.htm.

 

About Celent



Celent is a research and advisory firm dedicated to helping financial institutions formulate comprehensive business and technology strategies. Celent publishes reports identifying trends and best practices in financial services technology and conducts consulting engagements for financial institutions looking to use technology to enhance existing business processes or launch new business strategies. With a team of internationally experienced analysts, Celent is uniquely positioned to offer strategic advice and market insights on a global basis. Celent is a member of the Oliver Wyman Group, which is part of Marsh & McLennan Companies [NYSE: MMC].



Media Contacts



New York - Dana Lautin

dlautin@celent.com

Tel: +1 646 364 8254



Stockholm - Nick Bockh

nbockh@celent.com

Tel: +46.8.650.4401



Tokyo - Yumi Nagaoka

ynagaoka@celent.com

Tel: +81.3.3596.0020

Celent Launches Research Partnership with CUNA

Celent

New York, NY, USA

May 11, 2010

Celent Launches Research Partnership with the Credit Union National Association

Celent, a Boston-based financial research and consulting firm, announces a partnership agreement with the Credit Union National Association (CUNA), the premier national trade association serving credit unions. The relationship extends Celent’s footprint into the credit union market, providing CUNA’s affiliated credit unions with access to Celent’s research at reduced rates.



“There’s demand for high-quality business strategy and technology information. CUNA looked at a number of providers in the financial services research space and found that Celent stood out above the rest, in terms of the combination of its industry presence, credibility and expertise; the applicability of their information; and their willingness to work with us on a pricing model that would greatly benefit our affiliated credit unions,” says Doug Benzine, CUNA’s Vice President of Business Publishing.



"Celent has found that credit unions tend to be at the leading edge of use of technology and customer centricity," says Bart Narter, Senior Vice President of Celent’s Banking Group. "Working together with CUNA will help us and CUNA better understand best practices for FIs in these areas."



For additional information on Celent’s services, please contact Steve Nawrocki at snawrocki@celent.com or +1.617.262.3128 or visit http://www.celent.com/2734.htm.

 

About Celent



Celent is a research and advisory firm dedicated to helping financial institutions formulate comprehensive business and technology strategies. Celent publishes reports identifying trends and best practices in financial services technology and conducts consulting engagements for financial institutions looking to use technology to enhance existing business processes or launch new business strategies. With a team of internationally experienced analysts, Celent is uniquely positioned to offer strategic advice and market insights on a global basis. Celent is a member of the Oliver Wyman Group, which is part of Marsh & McLennan Companies [NYSE: MMC].



Media Contacts



New York - Dana Lautin

dlautin@celent.com

Tel: +1 646 364 8254



Stockholm - Nick Bockh

nbockh@celent.com

Tel: +46.8.650.4401



Tokyo - Yumi Nagaoka

ynagaoka@celent.com

Tel: +81.3.3596.0020

Billeo Helps Financial Institutions Offer Customers More Flexibility and Choice in Online Bill Pay with PayDirect Assistant

For the First Time Ever, Bank Customers Can Pay Bills Instantly - And Now With Debit Cards and Credit Cards

SAN FRANCISCO, May 11 /PRNewswire/ -- FinovateSpring 2010 -- Billeo (www.billeo.com) – a suite of Online Assistants that save people time and money in all types of online transactions, from shopping to bill pay – today announced PayDirect Assistant, a new patent-pending online service that adds first-of-its-kind features and functionality to banks' online bill pay services. Now 31 million bank bill pay customers can make immediate payments – even on the bill's due date – using their debit card or credit card.

(Logo: http://www.newscom.com/cgi-bin/prnh/20091215/BILLEOLOGO)

"We developed PayDirect Assistant to address two common points of frustration for consumers who use their bank's online bill pay services. They can't pay bills instantly, and they can't pay with a card. In fact, of the 31 million bank pay customers, more than half still go to a biller's website to make a same-day payment or earn rewards by paying with a card," said Murali Subbarao, founder and CEO of Billeo. "PayDirect Assistant provides an easy way for our banking partners to enhance their online bill pay services with little effort on their part, attract new bill pay customers and improve their existing customers' bill pay experiences with added choice and speed."

There are more than 8,000 billers that accept credit and debit cards as forms of payments – and now banks can give the 47 million households who currently pay directly to biller websites a one-stop, organized place to pay all their bills: from their bank's website. Billeo's PayDirect Assistant improves customer experience with their banks, and creates new revenue streams for the financial institutions.  

For banks: To get started, there are two easy choices:

1. If already offering an in-house bill pay solution, they simply can integrate with Billeo and the PayDirect Assistant will go live for customers.


2. If using a third-party bill pay consolidator, they can ask their service provider to integrate with Billeo to extend the value of the agreement and better serve customers.

For bank customers: Upon sign-in at their bank's website, customers activate Billeo's PayDirect Assistant with a simple click. It only takes three steps for a consumer to pay a bill using Billeo's PayDirect Assistant:

1. The customer selects a biller through their bank's billing directory, and Billeo's PayDirect Assistant brings them directly to the biller's website to log in, securely saving credentials to enable easy log-in for future payments.


2. Billeo's PayDirect Assistant automatically fills the card details on the biller's payment page.


3. After the customer pays a bill, Billeo's PayDirect Assistant saves a receipt on the bank's website, creating a centralized record of payment history.

Billeo's PayDirect Assistant is the ultimate online bill pay assistant, autofilling information throughout the process – from passwords to credit card numbers – and keeping all bill payments organized on the bank's website.

"The card-based online bill pay space is projected to be $1.4 trillion in volume, making the service very attractive to banks," continued Subbarao. "We are working with our various bank partners to enhance their bill pay offerings with features that their customers want, thereby improving customer satisfaction and retention. PayDirect Assistant is a win-win-win for banks, billers and their customers alike."

Billeo's PayDirect Assistant is the company's latest service geared toward helping people reap the rewards of transacting online. Billeo works with several large financial institutions to help improve their customers' online shopping and bill pay experiences, including Visa, American Express, Discover, Wells Fargo, U.S. Bank and NetSpend. Interest on Billeo's PayDirect Assistant from the financial community is strong, with many players working with Billeo to implement the service.

About Billeo, Inc.

Billeo provides a suite of Online Assistants that save people time and money in all types of online transactions, from shopping to bill pay. Its latest tool, the Offer Assistant, delivers high-quality discounts and deals from the loyalty programs of major card programs such as American Express, Visa and others – with no work required. Billeo was founded by seasoned executives well-versed in the online shopping and bill payment spaces. Over 40 banks, six of the top 10 card issuers, and more than 1,500 merchants are part of the trusted Billeo network. For more information about Billeo visit www.billeo.com.

SOURCE Billeo, Inc.

Billeo Helps Financial Institutions Offer Customers More Flexibility and Choice in Online Bill Pay with PayDirect Assistant

For the First Time Ever, Bank Customers Can Pay Bills Instantly - And Now With Debit Cards and Credit Cards

SAN FRANCISCO, May 11 /PRNewswire/ -- FinovateSpring 2010 -- Billeo (www.billeo.com) – a suite of Online Assistants that save people time and money in all types of online transactions, from shopping to bill pay – today announced PayDirect Assistant, a new patent-pending online service that adds first-of-its-kind features and functionality to banks' online bill pay services. Now 31 million bank bill pay customers can make immediate payments – even on the bill's due date – using their debit card or credit card.

(Logo: http://www.newscom.com/cgi-bin/prnh/20091215/BILLEOLOGO)

"We developed PayDirect Assistant to address two common points of frustration for consumers who use their bank's online bill pay services. They can't pay bills instantly, and they can't pay with a card. In fact, of the 31 million bank pay customers, more than half still go to a biller's website to make a same-day payment or earn rewards by paying with a card," said Murali Subbarao, founder and CEO of Billeo. "PayDirect Assistant provides an easy way for our banking partners to enhance their online bill pay services with little effort on their part, attract new bill pay customers and improve their existing customers' bill pay experiences with added choice and speed."

There are more than 8,000 billers that accept credit and debit cards as forms of payments – and now banks can give the 47 million households who currently pay directly to biller websites a one-stop, organized place to pay all their bills: from their bank's website. Billeo's PayDirect Assistant improves customer experience with their banks, and creates new revenue streams for the financial institutions.  

For banks: To get started, there are two easy choices:

1. If already offering an in-house bill pay solution, they simply can integrate with Billeo and the PayDirect Assistant will go live for customers.


2. If using a third-party bill pay consolidator, they can ask their service provider to integrate with Billeo to extend the value of the agreement and better serve customers.

For bank customers: Upon sign-in at their bank's website, customers activate Billeo's PayDirect Assistant with a simple click. It only takes three steps for a consumer to pay a bill using Billeo's PayDirect Assistant:

1. The customer selects a biller through their bank's billing directory, and Billeo's PayDirect Assistant brings them directly to the biller's website to log in, securely saving credentials to enable easy log-in for future payments.


2. Billeo's PayDirect Assistant automatically fills the card details on the biller's payment page.


3. After the customer pays a bill, Billeo's PayDirect Assistant saves a receipt on the bank's website, creating a centralized record of payment history.

Billeo's PayDirect Assistant is the ultimate online bill pay assistant, autofilling information throughout the process – from passwords to credit card numbers – and keeping all bill payments organized on the bank's website.

"The card-based online bill pay space is projected to be $1.4 trillion in volume, making the service very attractive to banks," continued Subbarao. "We are working with our various bank partners to enhance their bill pay offerings with features that their customers want, thereby improving customer satisfaction and retention. PayDirect Assistant is a win-win-win for banks, billers and their customers alike."

Billeo's PayDirect Assistant is the company's latest service geared toward helping people reap the rewards of transacting online. Billeo works with several large financial institutions to help improve their customers' online shopping and bill pay experiences, including Visa, American Express, Discover, Wells Fargo, U.S. Bank and NetSpend. Interest on Billeo's PayDirect Assistant from the financial community is strong, with many players working with Billeo to implement the service.

About Billeo, Inc.

Billeo provides a suite of Online Assistants that save people time and money in all types of online transactions, from shopping to bill pay. Its latest tool, the Offer Assistant, delivers high-quality discounts and deals from the loyalty programs of major card programs such as American Express, Visa and others – with no work required. Billeo was founded by seasoned executives well-versed in the online shopping and bill payment spaces. Over 40 banks, six of the top 10 card issuers, and more than 1,500 merchants are part of the trusted Billeo network. For more information about Billeo visit www.billeo.com.

SOURCE Billeo, Inc.

Obopay Announces New Offering: Mobile Money For Banks

Obopay's bank-branded mobile money solution enables banks to quickly and seamlessly join growing wave of mobile transactions

REDWOOD CITY, Calif., May 11 /PRNewswire/ -- Obopay, the pioneer in mobile payments, today announced Mobile Money for Banks, which will allow banks to deploy their own branded mobile money service.  Designed to make bank accounts the anchor for all current and future mobile money transactions, the service combines complete brand control and a full range of mobile transactions and applications with simple low-cost integration and deployment.  Mobile Money for Banks includes the ability to send and transfer money, makes payment card acceptance available to everyone and can be implemented in 30 days or less.

One of the biggest advantages of Mobile Money for Banks is the opportunity to replace a substantial amount of cash and check transactions, which turns a cost center into a revenue opportunity for the bank.  Cash and checks remain the predominate payment method used by consumers and cash alone is still projected to make up over 27 percent of all consumer payment methods by 2012 according to The Nilson Report, this despite continued growth in debit card usage.  According to Payment News, less than 30% of all small businesses accept any form of electronic payment.  It's not surprising therefore that mobile payments are among the top areas in which banks plan to invest in 2010 according to Ovum, and that they will be "mainstream" and a top ten mobile application by 2012 according to Gartner.  Smartphones are at the center of this movement.  In the U.S., there was a 39% year-over-year increase in shipments of smartphones in the fourth quarter of 2009.  In that same period, Apple's iPhone shipments grew by 98%.  Smart phones are expected to continue to grow to make up nearly half of all phones in the market by 2011 according to Nielsen.

While banks hope consumers would prefer to use a mobile payment system from their trusted financial service provider, banks are going to face increasing competitive pressure from non-traditional players outside the industry as well as their traditional competitors.   The roughly five million people who donated by text message following the disaster in Haiti, for example, were facilitated by carriers rather than banks.  In Canada, carriers have come together to establish a competitive mobile payment service.

"Any bank that isn't looking at how to enter the mobile money market as quickly as possible is risking the loss of business to competitors, the carriers, or PayPal", said Bob Hedges, Managing Partner of Mercatus, "Given the considerable level of consumer interest, what banks need is a solution that is easy to implement, inexpensive and fast to deploy.  We should anticipate a wave of bank deployments over the next six months."

Mobile Money for Banks gives financial institutions the opportunity to bring to market quickly branded smart phone, Blackberry and iPhone applications, as well as Mobile Internet, SMS and IVR services and a full range of website capabilities.  It is quick and low cost for banks to deploy because it leverages established connections and payment processes to existing payment networks and it provides maximum mobile coverage through established distribution with mobile carriers.

"We have been at the forefront of mobile payments for five years," said Obopay CEO Carol Realini.  "Mobile Money for Banks incorporates our knowledge and expertise in the most successful use cases, applications and capabilities with technology that makes it extremely easy for banks to get into mobile payments with their own brand."

Mobile Money for Banks includes the following products:

• Get Paid by Obopay

Enables payments to be received for products or services.  Anyone, including small businesses or individuals, can accept debit card or ACH payments from anyone.  Money is received directly into the recipient's bank account.  This includes the capability to accept payments directly from a mobile phone, website or email.  Obopay offers a number of tools that people can use to get paid including payment buttons for websites, payment links for emails or email invoices, and social networking widgets.  

• Mobile P2P by Obopay

Enables bank customers the ability to link and send money to anyone directly from their own bank account using a debit card.  Obopay takes care of validation and regulatory compliance.  Recipients don't have to be signed up for the service to receive the money and can direct the funds into their own bank account using their debit card number or bank account and routing number.  They can also direct the funds to a pre-paid card, if they choose, and get instant access to the funds for online shopping.

• Family Money by Obopay

Enables bank customers to send money instantly to family members for emergencies or regularly scheduled payments.  Family members receiving the money can direct it to their own bank account if they have one or, if the senders prefer, they can provide them with their own personalized prepaid card, which is great for teens.  Parents can "top-off" funds instantly from their accounts or on a regularly scheduled basis.  Use of the prepaid debit card allows parents to monitor spending in real time.  

• Transfer Money by Obopay

Enables account-to-account transfers, allowing customers to exchange funds from their bank accounts to accounts outside of their bank.  This is accomplished by simply linking the accounts they want to send money to by entering that account's debit card number or its bank account and routing number.  

Obopay offers a variety of inexpensive and flexible integration options including fully branded standalone service offerings for web and mobile applications, as well as single sign on (SSO).  Payment system integration options enable the bank's accounts to be anchors for all mobile transactions through integration with existing debit card network connections, or through the ACH network.  Core banking integrations are also available.

About Obopay

Founded in 2005, Obopay, Inc., (banks.obopay.com) offers financial institutions an open, trusted, secure and interoperable mobile payments service by transforming any mobile phone into a convenient and easy way to send and receive money.  The company's Mobile Money for Banks offers bank-branded, account-centric mobile service quickly, painlessly and at low deployment cost.  Obopay's broad-based offering addresses the needs of consumers and businesses around the world by providing a ubiquitous service that delivers value, empowers lives and improves opportunity for merchants both in the physical and virtual worlds.  The company provides innovative mobile money services making it easy for mobile phone users to securely send and receive money, top-up their mobile, buy online, buy via mobile, pay bills and pay small businesses.  Obopay believes the power is in the network and has established global partnerships that include Nokia, MasterCard, Citibank, AT&T, Verizon, Essar, Yes Bank in India, Blackberry and Societe Generale.  Global headquarters are in Redwood City, CA with operations inIndia.