Fiserv Credit Processing and BillMatrix Announce Alliance to Provide Real-Time, On-Demand Payment Services for Credit Portfolios; Fiserv Business Units Team to Provide PLUS System Clients with 24-Hour Payment Processing
LAKE MARY, Fla. & DALLAS, May 09, 2006 (BUSINESS WIRE) -- Fiserv Credit Processing Services and BillMatrix, both business units of Fiserv, Inc. (Nasdaq:FISV), are combining their expertise to put on-demand payment services in the hands of clients who use the PLUS System to manage their credit portfolios. This enhancement underscores the product improvements Fiserv's clients can expect as part of an expanded set of overall payments capabilities. In this case, Fiserv Credit Processing Services' billers will benefit from the superior on-demand payment service provided by BillMatrix.
Acquired by Fiserv in 2005, BillMatrix provides telephone and Internet-based electronic payment services that allow consumers to use a wide variety of payment methods. The biller's customer information system is notified in real time that a payment has been completed. BillMatrix is a pioneer in this industry, with a history of innovation that allows the company to tailor solutions to specific biller markets.
Fiserv acquired BillMatrix in its continuing efforts to expand its payment services to meet the needs of a 24-hour, on-demand business environment. "Anytime of the day a person can go online or call an 800 number to make a payment," said Max Narro, president of Fiserv Credit Processing Services. "This is another way of continuing to help our clients put 24-hour services into their customers' hands. BillMatrix is a key element in our go-forward strategy to secure a broader role in the payments business."
Fiserv Credit Processing Services is designing two product sets around BillMatrix services. "We're going to have a fully customized service for our larger clients and one that is more of a template-based, turnkey service for other clients," Narro said. "This way our entire client base will benefit from the expanding payment options. We have built our company around the concept of delivering flexible, cost effective solutions that appeal to a wide range of lenders. The BillMatrix offering is a great complement to our existing services."
"This alliance will add Fiserv's clients who use the PLUS System to the blue-chip billers that are already using our service," said Jerry Portocalis, executive vice president of sales and marketing for BillMatrix. "By aligning with Fiserv Credit Processing, we have created a structure to provide any size client they serve with a broader range of payment options. Instead of just ACH or electronic checks, we can add the increasingly popular ATM or debit card payment methods."
About Fiserv Credit Processing Services
Providing credit management processing systems since 1990, Fiserv Credit Processing Services offers a wide range of account management services, including application decision making, customer service case management, authorization and settlement, as well as call center services, Internet customer care, and enhanced reporting products. Servicing more than 13 million accountholders, Fiserv Credit Processing Services has been selected by issuers of all sizes who require system flexibility, product expertise and cost effectiveness from their card servicing partners. For more information, visit www.fiservcreditservices.com.
About BillMatrix Corp.
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 140 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.
About Fiserv, Inc. (Nasdaq:FISV)
Fiserv, Inc. (Nasdaq:FISV), a Fortune 500 company, provides information management systems and services to the financial and health benefits industries. Leading services include transaction processing, outsourcing, business process outsourcing, software and systems solutions. The company serves more than 17,000 clients worldwide and is the leading provider of core processing solutions for U.S. banks, credit unions and thrifts. Fiserv was ranked the largest provider of information technology services to the financial services industry worldwide in the 2005 and 2004 FinTech 100 surveys. Fiserv Health provides health plan management, pharmacy benefits management, and BPO services to the managed care market and self-funded commercial and government employers and health plans. Headquartered in Brookfield, Wis., Fiserv reported more than $4 billion in total revenue for 2005. For more information, please visit www.fiserv.com.
SOURCE: Fiserv, Inc.
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