Stamford,
CT, October 9, 2001 -- Pitney Bowes Inc. (NYSE:
PBI) today announced a new partnership between two of
its rapidly growing product suites: docSense, which
offers electronic bill presentment and payment, and
PitneyPay, a comprehensive Internet payment solution.
By merging their respective technologies, PitneyPay
and docSense are meeting increased market demand for
end-to-end billing and payments solutions and working
together to develop innovative eCommerce tools.
Founded
in 1920, Pitney Bowes has become the leading global
provider of mail and document management solutions,
and has gained an unparalleled knowledge of bill creation
and distribution. The company manages billions of dollars
in postal payments on an annual basis, and has an established
history of facilitating international payments and equipment
leases. As a result, Pitney Bowes has become one of
the worlds most established and trusted business-to-business
intermediaries. By bridging company's invoicing experience
and its financial services capabilities, Pitney Bowes
has created a complete eBusiness service offering, making
it one of the formidable players in the burgeoning online
billing and payment space.
"Pitney
Bowes' established history as a print service bureau,
and an installed base of paper billers provides the
firm with significant industry knowledge and recognition,"
said Andrei Arkhipov, financial technologies analyst,
Aberdeen Group. " Pitney Bowes has gained the technology
to be considered one of the premier invoicing and payment
solutions providers in its targeted markets. Besides
the technology edge, the firm's income statement and
balance sheet make it a powerful Internet invoicing
force, which many will find hard to reckon with."
The
e-billing component of this partnership, Pitney Bowes
docSense, serves the needs of large companies transitioning
their current paper-based billing and statement processes
to web-enabled delivery. The core bill presentment solution,
Digital Document Delivery (D3), provides B-to-B and
B-to-C payers with necessary tools to maintain workflow
and access control, and allow for more efficient review
and approval. D3 is offered to major billing organizations
under a software license or as a hosted service.
Through
the payment component, PitneyPay, users can respond
to Electronic Bill Payment and Presentment (EBPP) or
Electronic Invoice Payment and Presentment (EIPP) by
sending or receiving -more- payments as an ACH Debited
payment, escrow, or any combination of payment/escrow,
to securely execute payments online. PitneyPay is capable
of dispensing simultaneous payments to multiple vendors
associated with the transaction through its web-based
integrated payment routing system.
"Over
the past year, we have been developing our transaction
capabilities and now have one of the most secure and
versatile online payment engines available," said Michael
Ryan, Vice President PitneyPay. "By teaming up with
docSense, we will expand the breadth of our offering
to provide our customers with a more complete solution
for their eBusiness transactions."
Working
together, docSense and PitneyPay will support both divisions'
customers to improve the levels of service provided.
Both D3 and PitneyPay are XML-compatible and fully compliant
with integration standards of most Internet players.
Furthermore, D3 can support multiple languages, making
it possible to conduct International commerce. The two
support a broad spectrum of online transactions by businesses,
consumers and governments will be able to attract new
customers in multiple markets.
About
Pitney Bowes
Pitney Bowes Inc. is a $4 billion global provider of
integrated mail, messaging and document management solutions
headquartered in Stamford, Connecticut. The company
serves over 2 million businesses of all sizes through
dealer and direct operations. Pitney Bowes Capital Services,
through its PitneyB2Bcapital suite of products and services,
is rapidly becoming a leading facilitator of online
financial services. PitneyB2Bcapital offers real-time,
secure transactions using innovative proprietary technology,
providing buyers and sellers with the security of a
trusted third party. Pitney Bowes docSense is the company's
global provider of premier solutions for the creation
and distribution of efficient and effective documents
in paper and digital form For additional information
about Pitney Bowes, please visit our Website at www.pitneybowes.com.
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