Stamford,
Conn., November 10, 1998 -- Pitney Bowes Inc.
(NYSE: PBI) the world leader in mail and messaging management,
and CyberCash, Inc., the leading provider of Internet
payment solutions, today announced the introduction
of a breakthrough end-to-end Internet bill presentment
and payment solution.
Pitney
Bowes will incorporate the CyberCash suite of Internet
payment services into Pitney Bowes Digital Document
Delivery (D3) platform. The D3 solution provides billers
with a comprehensive platform for rendering, distributing,
tracking and processing bills previously distributed
on paper through electronic channels such as the Internet.
D3 is part of pb.commander, a suite of hardware and
software products, services and financing options to
help high volume mailers design and implement document
factories.
"The
incorporation of CyberCash into the D3 solution will
allow billers to render their electronic bills with
payment capabilities, thereby streamlining the entire
billing process," said John F. Kwant, Director of Business
Development for Pitney Bowes. "Now both statement rendering
and remittance processing can be managed in one integrated
system for a truly end-to-end solution," Kwant said.
One
of the unique benefits of the D3 solution is its sophisticated
workflow tracking capabilities. This allows a biller
or a billing service provider to closely monitor and
optimize every step in the statement rendering process,
whether the bill is delivered on paper or through electronic
delivery channels. The D3 solution also creates tailored,
"one-to-one" personalized documents to maximize their
impact for cross and up-selling potential.
Using
CyberCash PayNow Secure Electronic Check ServiceTM
or Credit Card service, a biller can embed an electronic
payment key on an Internet presented bill. The CyberCash
Internet payment functionality takes advantage of a
biller's own enrollment efforts while controlling one
of the most critical functions in the Internet bill
presentment and payment process, namely remittance processing
and collection. As a result, billers can use multiple
Internet delivery channels, such as their own Web site,
e-mail, third party bill concentrators and homebanking
services to distribute its bills, with the assurance
that the embedded payment capability will bring the
payment directly back to the biller for processing.
"Historically,
the printing and mailing of a statement were separate
and distinct functions from remittance processing,"
according Richard Crone, Vice President & General
Manager of CyberCash. "Now, with this partnership, these
functions are joined together into one integrated solution
for Internet bill presentment and payment."
About
CyberCash
CyberCash is the world leader in secure, convenient
payment technologies and services, enabling e-commerce
across the entire market spectrum from electronic retailing
environments to the Internet.
CyberCash
provides a complete line of software products and services
allowing merchants, billers, financial institutions
and consumers to conduct secure transactions using the
broadest array of popular payment forms. Credit, debit,
purchase cards, cash, checks, smart cards and alternative
payment types (e.g., "frequent buyer" or loyalty programs)
are all supported by CyberCash payment solutions. Leading
brands of CyberCash include ICVERIFY®, PCVERIFY™,
CashRegister™, NetVERIFY™, CyberCoin® and PayNow™.
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