RealTime IT News

CheckFree Launches Guarantee Program

In a move aimed to diminish consumer concerns about security online, CheckFree launched the CheckFree Guarantee Program to help its financial services and billing partners promote customer confidence in online bill payment.

The new "Transactions Guaranteed by CheckFree" symbol and accompanying statement are now available for use on financial service and biller Web sites that offer electronic billing and payment backed by CheckFree.

The two-part guarantee provides protection from unauthorized transactions by limiting consumer liability for unauthorized transactions to no more than $50, much like major credit cards.

The subscriber must provide notification within two business days of when they initially suspect fraud.

Also, CheckFree will assume responsibility for any late payment-related charges (up to $50 per transaction), should a payment that is scheduled in accordance with the terms and conditions of service arrive late.

"Some of our partners have told us their customers do not realize just how secure and reliable electronic billing and payment is, and may have concerns about enrolling for that reason," said Matt Lewis, executive vice president of product management and marketing at CheckFree.

"While all of our distribution partners are protected by the CheckFree Guarantee, we launched this formal program to enable partners to display a symbol and guarantee description on their sites to help consumers understand that their transactions are protected."

CheckFree designs, develops and markets services that enable nearly three million consumers to receive and pay bills over the Internet or electronically through a variety of bill aggregation points, including banks, brokerage firms, portals and interactive content sites.