Yahoo! Debuts Bill Payment Service
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Yahoo! Inc. Monday expanded its alliance with CheckFree Corp. by introducing a free online payment service for its registered users.
Yahoo! E-Bills, the newest addition to Yahoo!'s financial services portfolio, allows users to receive bills online. The new function will connect to Yahoo! Bill Pay, making it possible for users to complete their monthly bill-paying routine entirely online, for a minimal fee.
The service is possible through CheckFree (CKFR), which Yahoo! relies on to coordinate the delivery from 37 CheckFree E-Billers in the U.S. The account usually begins receiving online bills one month after activation.
The service is made secure by the Yahoo! Security Key password system and the Secure Sockets Layer (SSL) security standard. Transactions will be conducted on the CheckFree Web site, which boasts a CheckFree Guarantee against processing delays and unauthorized transactions.
"With Jupiter Research forecasting the number of households using online bill-paying services growing to 18 million by 2003, CheckFree is extremely glad to be working with Yahoo! as more and more consumers adopt the practice of managing their finances online," said Pete Kight, CheckFree's chairman and chief executive officer.