edocs Reaches New e-Billing Milestones - Presenting Over 70 Million e-Bills per Quarter: 3-4x Neares

Wednesday 21 January 2004 14:25 CET | News

In the quarter ending December 31, 2003, edocs customers presented over 70 million consumer e-bills and processed almost $900 million in consumer e-payments via edocs software. The new milestones illustrate the continued growth in consumer adoption of e-billing and e-payment and reinforce consumers strong preference to view their e-bills and manage their online accounts directly at biller web sites instead of at bank and other bill consolidation sites. Many of the worlds leading companies including British Telecom, Target, Toyota Financial Services and Verizon Wireless use edocs software to power their online billing, payment and customer self-service initiatives at their web sites. These companies and others offer these capabilities because they want to provide customers with 7/24 account access, unmatched convenience and improved service. At the same time, the companies that deploy edocs software benefit from increased customer satisfaction, reduced customer support costs, and significant savings on bill and payment processing. With these latest results, edocs estimates that its platform is presenting more than three to four times as many e-bills as its nearest competitor in terms of volume, CheckFree Corporation. Some of the recent milestones achieved on edocs biller-direct platform include: -- More than 23 million e-bills being viewed every month online at biller web sites via edocs software platform. -- More than 4.8 million payments being made online each month at biller web sites via edocs software. These payments exceed $292 million each month and $876 million per quarter. In 2004, edocs expects these payments to exceed $420 million per month and $5 billion for the year. -- Companies that have deployed the edocs platform for consumer e-billing and online self-service have gained an average customer adoption rate of over 14%, far above reported industry averages. Several customers have reached over 30% and are still growing.

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Categories: Payments & Commerce | Payments General
Countries: World
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