BillMatrix Unit of Fiserv Briefs California Public Utilities Commission; Payment Industry Experts Providing Counsel on Implementing Recent Legislation
BillMatrix Unit of Fiserv Briefs California Public Utilities Commission; Payment Industry Experts Providing Counsel on Implementing Recent Legislation
March 20, 2006
BillMatrix Unit of Fiserv Briefs California Public Utilities Commission; Payment Industry Experts Providing Counsel on Implementing Recent LegislationDALLAS, Mar 20, 2006 (BUSINESS WIRE) -- BillMatrix Corporation, a provider of outsourced telephone- and Internet-based payment services and a subsidiary of Fiserv, Inc. (Nasdaq:FISV), today briefed the California Public Utilities Commission on the use of credit cards, ATM debit cards, electronic checks and recurring transactions for bill payment. Requested to participate in an informational workshop on the implementation of the California Assembly's recent legislation (AB 746) allowing California consumers to pay their utility bills using credit or debit cards, the regulatory agency called upon the company's twelve years of experience in providing electronic payment services. Three other state utility regulatory bodies have asked BillMatrix to provide similar information, including the Rhode Island and the New Hampshire Public Utilities Commissions and the Kansas Corporation Commission.
BillMatrix reviewed industry best practices, consumer adoption trends and the intersecting regulations surrounding electronic payment methods with the California Commissioners and their staff. The California Public Utilities Commission (PUC) regulates privately owned telecommunications, electric, natural gas, water, railroad, rail transit, and passenger transportation companies. They are responsible for ensuring that customers have safe, reliable utility service at reasonable rates, protecting against fraud, and promoting the health of California's economy.
Jerry Portocalis, BillMatrix' Senior Vice President of Sales and Marketing, delivered the presentation to the group. "We appreciate this opportunity to provide input to the utility industry regarding the upcoming changes," said Portocalis. "Rapid advances in payment solution technologies are presenting more options for the consumer. With precise planning, utility companies will be poised to optimize revenue intake options while enhancing the overall customer transaction experience."
About BillMatrix Corporation
Founded in 1994, BillMatrix Corp. provides outsourced alternatives to traditional payment methods using the latest automated technologies. BillMatrix, which became part of Fiserv in August 2005, works with more than 120 companies to supplement paper-based methods of remittance with convenient, efficient and cost-effective electronic payments. Consumers, customer service representatives and other third-party agents are able to make payments via hosted Internet and telephone systems using credit cards, ATM debit cards and electronic check payment options. For more information, visit www.BillMatrix.com. Fiserv, Inc. is a provider of information management systems and services to the financial and health benefits industries, including transaction processing, outsourcing, business process outsourcing and software and systems solutions. The company serves more than 17,000 clients worldwide, including banks, credit unions, financial planners/investment advisers, insurance companies and agents, self-insured employers, lenders and savings institutions. Headquartered in Brookfield, Wis., Fiserv reported $3.7 billion in processing and services revenues for 2005. Fiserv was ranked the largest provider of information technology services to the U.S. financial services industry in the 2004 and 2005 FinTech 100 survey by the American Banker newspaper and the Financial Insights research firm. Fiserv can be found on the Internet at www.fiserv.com.
BillMatrix reviewed industry best practices, consumer adoption trends and the intersecting regulations surrounding electronic payment methods with the California Commissioners and their staff. The California Public Utilities Commission (PUC) regulates privately owned telecommunications, electric, natural gas, water, railroad, rail transit, and passenger transportation companies. They are responsible for ensuring that customers have safe, reliable utility service at reasonable rates, protecting against fraud, and promoting the health of California's economy.
Jerry Portocalis, BillMatrix' Senior Vice President of Sales and Marketing, delivered the presentation to the group. "We appreciate this opportunity to provide input to the utility industry regarding the upcoming changes," said Portocalis. "Rapid advances in payment solution technologies are presenting more options for the consumer. With precise planning, utility companies will be poised to optimize revenue intake options while enhancing the overall customer transaction experience."
About BillMatrix Corporation
Founded in 1994, BillMatrix Corp. provides outsourced alternatives to traditional payment methods using the latest automated technologies. BillMatrix, which became part of Fiserv in August 2005, works with more than 120 companies to supplement paper-based methods of remittance with convenient, efficient and cost-effective electronic payments. Consumers, customer service representatives and other third-party agents are able to make payments via hosted Internet and telephone systems using credit cards, ATM debit cards and electronic check payment options. For more information, visit www.BillMatrix.com. Fiserv, Inc. is a provider of information management systems and services to the financial and health benefits industries, including transaction processing, outsourcing, business process outsourcing and software and systems solutions. The company serves more than 17,000 clients worldwide, including banks, credit unions, financial planners/investment advisers, insurance companies and agents, self-insured employers, lenders and savings institutions. Headquartered in Brookfield, Wis., Fiserv reported $3.7 billion in processing and services revenues for 2005. Fiserv was ranked the largest provider of information technology services to the U.S. financial services industry in the 2004 and 2005 FinTech 100 survey by the American Banker newspaper and the Financial Insights research firm. Fiserv can be found on the Internet at www.fiserv.com.
SOURCE: BillMatrix Corporation BillMatrix Corporation, Dallas Gail Moser, 214-750-2892 GMoser@BillMatrix.com