The extension will enable both companies to continue offering complementary electronic payment channels to billers to help them meet needs of all their consumer customers. The agreement, first signed in 2001, has allowed each company to offer its respective clients a more comprehensive range of payment offerings by providing referrals to the other company. CheckFree Corporation completed its acquisition of APS in June 2004. In addition to extending the range of payment options for biller clients, this collaboration enables billers to extend their databases of high risk accounts of which electronic or in-person payments have been returned due to insufficient funds or fraud in the past. Using decision rules set in concert with the biller, APS, CheckFree and BillMatrix will be able to direct these accounts to guaranteed funds methods, such as ATM cards or cash at the walk-in location, that limit the billers exposure and cost.
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