E-billing application service provider Derivion and transaction services provider
CheckFree signed a deal aimed at
accelerating adoption of electronic billing and payment within the small and
mid-tier biller marketplace.
The agreement will leverage Derivion’s inetBiller as an offering for
companies that want to provide e-billing quickly by outsourcing the process
and CheckFree’s distribution network of banks, brokerage firms, credit
unions, portals and personal financial manager software.
Together, Derivion and CheckFree said they can deliver an e-billing solution
that is
cost-effective and quick to implement, offering the consumer a choice of
access points to view and pay bills. Financial arrangements between the
companies were not disclosed.
“Over the past six months we have watched Derivion gain significant momentum
and recognition with small and mid-tier billers,” said Sean Feeney, executive
vice president at CheckFree. “Derivion has done an excellent job of reaching
a key segment of recurring billers. . .”
“The agreement with CheckFree is an important acceleration in our strategy to
provide small and mid-tier billers with a turnkey solution. . .,” said Greg
Rable, Derivion’s CEO. “Derivion customers will now have additional
high-visibility destination points on the Web including Yahoo!, Quicken.com,
Charles Schwab, BankOne, and many others.”
Derivion’s inetBiller works transparently with a client’s current billing
processes to increase efficiencies and decrease costs involved in recurring
billing cycles. Derivion handles all the steps necessary for implementation,
including the design and presentation of online bills, set up of payment
processing, promotion of the service, and launch of the
customer enrollment process.