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.