BB&T Selects CheckFree to Provide Electronic Bill Payment Services
Multi-year agreement emphasizes the time-saving benefits, reliability and security of paying bills online
WINSTON SALEM, N.C. and ATLANTA, Jan. 29 (www.AllPayNEws.com) -- CheckFree Corporation (Nasdaq: CKFR), and Winston Salem, N.C.-based BB&T Corporation (NYSE: BBT) today announced that BB&T has signed a multi-year contract for CheckFree electronic bill payment services.
"Our partnership with CheckFree affirms BB&T's strong commitment to providing high-quality electronic bill payment services to our retail and small business clients," said Bennett Bradley, executive vice president and
head of BB&T's Payment Services Division.
Under the terms of agreement, CheckFree will serve as BB&T's primary electronic bill payment processing provider.
"We look forward to working with CheckFree to expand our clients' awareness of the many advantages of paying bills online, including improved financial management, time savings, reliability, payment security, control and
convenience," said Scott Qualls, senior vice president of BB&T's Deposit Access Products Group.
BB&T has provided secure electronic bill payment services since 1998. Available at http://www.BBT.com, BB&T's service enables retail and small business clients to pay anyone securely and safely, while providing an on-time
"CheckFree is committed to providing a highly integrated and secure payment experience that helps BB&T meet its customer acquisition and retention goals, while maintaining its position as one of the nation's leading banks," said Jeff Weikert, senior vice president of the Consumer Service Provider Business Unit in CheckFree's Electronic Commerce Division. "BB&T has a long and rich tradition of excellence in community banking, and we are pleased to support its online bill payment and consumer education initiatives."
CheckFree provides innovative electronic billing and payment technologies that enable financial services organizations to achieve their acquisition, retention and optimization goals through secure online channels. CheckFree solutions include online integrated personal finance management; online account opening, funding and transfer; electronic billing and payment for consumers; electronic invoice presentment, payment and receivables solutions for small business banking customers; mobile payment solutions; flexible Web services technology for electronic billing and payment; and payment fraud detection and prevention.
About BB&T (http://www.BBT.com)
BB&T Corporation, headquartered in Winston-Salem, N.C., is a fast-growing, highly profitable financial holding company. Its bank subsidiaries operate more than 1,450 financial centers in the Carolinas, Virginia, West Virginia, Kentucky, Georgia, Maryland, Tennessee, Florida, Alabama, Indiana and Washington, D.C. BB&T ranks No. 2 in market share in North Carolina; No. 2 in Virginia/Washington, D.C.; No. 3 in South Carolina; No. 1 in West Virginia; No. 4 in Georgia; No. 5 in Maryland; and No. 4 in Kentucky. With $121.4 billion in assets, BB&T Corp. is the nation's 11th largest financial holding company.
About CheckFree (http://www.checkfreecorp.com)
Founded in 1981, CheckFree Corporation (Nasdaq: CKFR) provides financial electronic commerce services and products to organizations around the world. CheckFree Electronic Commerce solutions enable thousands of financial services providers and billers to offer the convenience of receiving and paying household bills online, via phone or in person through retail outlets. CheckFree Investment Services provides a broad range of investment management
solutions and outsourced services to hundreds of financial services organizations, which manage about $1.5 trillion in assets. CheckFree Software develops, markets and supports payment processing solutions that are used by financial institutions to process more than two-thirds of the 14 billion Automated Clearing House transactions in the United States, and supports reconciliation, exception management, risk management, transaction process
management, corporate actions processing, and compliance within thousands of organizations worldwide.
Certain of the Company's statements in this press release are not purely historical, and as such are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These include statements
regarding management's intentions, plans, beliefs, expectations or projections of the future. Forward-looking statements involve risks and uncertainties, including without limitation, the various risks inherent in the Company's business, and other risks and uncertainties detailed from time to time in the Company's periodic reports filed with the Securities and Exchange Commission, including the Company's Annual Report on Form 10-K for the year ended June 30, 2006 (filed September 8, 2006) and Form 10-Q for the quarter ended September 30, 2006 (filed November 8, 2006). One or more of these factors have affected, and could in the future affect the Company's business and financial results in future periods, and could cause actual results to differ materially from
plans and projections. There can be no assurance that the forward-looking statements made in this press release will prove to be accurate, and issuance of such forward-looking statements should not be regarded as a representation by the Company, or any other person, that the objectives and plans of the Company will be achieved. All forward-looking statements made in this press release are based on information presently available to management, and the Company assumes no obligation to update any forward-looking statements.
SOURCE CheckFree Corporation
/CONTACT: Media relations, Judy DeRango Wicks, +1-678-375-1595, or
firstname.lastname@example.org, or Investor relations, Tina Moore, +1-678-375-1278, or
email@example.com, both of CheckFree Corporation/
/Web site: http://www.checkfreecorp.com