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724 Solutions, CheckFree Offer Wireless EBP

[Toronto, CANADA] Internet infrastructure software developer 724 Solutions Inc. and CheckFree agreed to make electronic billing and payment (EBP) available to financial institutions' customers that use CheckFree and the 724 Solutions financial services platform.

These financial institutions will enable customers to receive and pay bills, such as telephone, utility, home loan, cable, credit card and insurance bills, on wireless Internet-enabled devices including mobile phones and personal digital assistants (PDAs).

The development and co-marketing agreement joins CheckFree's market and technology in electronic billing and payment with 724 Solutions' wireless financial services offering.

Wireless EBP is expected to be available for delivery to CheckFree and 724 Solutions customers in the third quarter of 2000. The EBP-enabled solution can be hosted by 724 Solutions or by the financial institution themselves.

"The ability for financial institutions to offer electronic bill presentment and payment services to their customers is a huge value-add, and even more so when they can do it anytime, anywhere via the wireless device of their choosing," said Greg Wolfond, chief executive officer, 724 Solutions.

By 2004, 70 percent of new cell phones and 40 percent of new PDAs will use wireless technology for direct access to Web content and enterprise networks, according to a February 2000 Gartner Group report.

"CheckFree's electronic billing and payment platform was developed with the understanding that wireless integration would open new worlds of convenience," said Pete Kight, chief executive officer, CheckFree. He continued, "With 724 Solutions, CheckFree will deliver a powerful value-added proposition for financial institutions to offer consumers, businesses and billers a convenient alternative to paper bills and payments with access from a variety of mobile devices."

Headquartered in Toronto, 724 Solutions has offices in London, San Francisco, Sydney, and Tokyo.