BROOKFIELD, Wis., Oct 16, 2008 (BUSINESS WIRE) -- Fiserv, Inc. (NASDAQ: FISV), a leading provider of information technology services to the financial industry, today announced it has partnered with PayScan America, Inc., obtaining exclusive rights to license PayScan's patented bar code bill payment process. By utilizing the PayScan(R) patented bar code bill payment process and the Fiserv CheckFreePay Link(TM) platform, CheckFreePay will be able to offer an enhanced retail payment solution that will enable walk-in consumers to pay their household bills quickly and easily at retail checkout lanes and self-service kiosks.

This enhanced retail payment solution will use a "smart bar code" on the bill to record processing rules, including relevant payment data from a customer bill such as the account number. By scanning the bill at an existing retail point-of-sale terminal, a cashier or consumer can easily submit a payment without manual data entry.

Senior executives from Fiserv and PayScan will discuss the future of retail in-lane bill payment at a webinar on Nov. 12, at 1:30 p.m. EST. To register, visit www.checkfreepay.com.

"We believe in-lane bill payment services will transform the walk-in bill payment landscape," said Paul Harrison, senior vice president and general manager of Fiserv's CheckFreePay business. "For retailers, it will provide a more efficient walk-in bill payment process that leverages point-of-sale bar coding to reduce the chance for error. Billers could realize reduced processing costs, while their customers will enjoy a more convenient payment experience."

"Puget Sound Energy sees great potential to enhance the customer experience and improve operational efficiency through the scanning of in-lane bar coded utility bill statements,"said Don Pratt, manager, payment processing, Puget Sound Energy. "This technology speeds the payment process for walk-in customers while also improving payment accuracy for billing organizations."

In a February 2008 report, "Walk-in Bill Payment: The Rational Option for the 'Cash-Preferred' Market," TowerGroup estimated that about 6 percent of all consumer bill payments are made at walk-in retail locations, with the vast majority of these paid in cash by unbanked or underbanked consumers.

"Retail locations provide a convenient and cost-effective option for the 40 million consumer households that prefer to pay their bills in cash and in person," said Jennifer Roth, research director, global payments, TowerGroup. "Offering in-person, in-lane bill payments at retail point-of-sale registers will serve traditional walk-in bill payment customers, but will also appeal to consumers who typically pay by mail. This represents the next step in delivering automated efficiency and convenience in the walk-in bill payment market."

Today, retailers that offer walk-in bill payment services generally do so at customer service counters or other, separate locations within the store, because they cannot effectively handle bill payment in lane. CheckFreePay Link with the in-lane bill payment option will offer retailers a solution that will allow consumers to pay their household bills while purchasing groceries and other household items in the checkout lane, creating a better customer service experience for consumers.

Once implemented, consumers will be able to bring one or more bills into a participating location, scan it at the checkout lane or kiosk, make a payment and leave with a receipt in hand as proof of payment. The payment will arrive electronically at the biller, accurate and ready for posting. In many cases, confirmation of payment will be available to billers before the funds even arrive, helping them to make better customer service decisions. This process is expected to reduce biller costs associated with accepting cash and checks, reduce Days Sales Outstanding, and provide cleaner electronic remittance.

"In-lane bill payment will benefit billers, retailers and consumers alike," said Lou Krouse, founder and chief executive officer, PayScan America. "Billers can optimize their payment collection with increased efficiencies and fewer errors, and can refer their customers to familiar retailers throughout their service territories. This is also a great opportunity for retailers to capitalize on the increased foot traffic generated by a walk-in bill payment service with minimal impact on their day-to-day operations. The bottom line is that everyone benefits from more consumer choice."

CheckFreePay is a leader in the post-paid walk-in bill payment market, processing payments for more than 1,000 billers at more than 12,000 locations nationwide. CheckFreePay agents include supermarkets, drugstores and convenience stores, along with hundreds of independent and chain store retailers. For more information, visit www.checkfreepay.com.

About PayScan America, Inc.

PayScan America Inc., a privately held corporation, develops solutions for bill payment and other financial applications. Patents developed by the PayScan team, some of which date back to 1995, continue to solve major problems related to automated bill payment. PayScan developed the first bill payment solution designed for use in mass market retail checkout lanes through the use of a unique patented smart barcode. For more information, please visit www.PayScan.com.

About Fiserv, Inc.

Fiserv, Inc. (NASDAQ: FISV), a Fortune 500 company, provides information management and electronic commerce systems and services to the financial and insurance industries. Leading services include transaction processing, outsourcing, electronic bill payment and presentment, investment management solutions, business process outsourcing (BPO), software and systems solutions. Headquartered in Brookfield, Wis., the company 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 2004, 2005 and 2006 FinTech 100 surveys. In 2007, the company completed the acquisition of CheckFree, a leading provider of electronic commerce services. Fiserv reported nearly $4 billion in total revenue from continuing operations for 2007. For more information, please visit www.fiserv.com.

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SOURCE: Fiserv, Inc.

Lori Stafford-Thomas 
Assistant Vice President Corp. External Comm. 
Fiserv, Inc. 
262-879-5130 
lori.stafford@fiserv.com 
or 
Steve Shaw 
Fiserv, Inc. 
Director, Strategic Marketing 
503-629-3770 
Sshaw@checkfree.com

Copyright Business Wire 2008

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