eGistics and ChoicePay Form Alliance to Help Companies Manage Multiple Payment Channels, Consolidate Reporting
DALLAS, April 14, 2008 – eGistics and ChoicePay today announced an agreement to provide a scalable and flexible single-source remittance and reporting solution platform that can support any electronic payment channel. The combination of eGistics’ hosted image and data archive with ChoicePay’s ePayment services will make managing multiple payment channels easy and accessible for financial institutions and remittance processors, as well as billers in the utility sector and other industries.
“The payments industry is in the middle of a massive shift from paper to electronic processes, and an agile solution is needed that addresses both,” said eGistics Executive Vice President of Sales and Corporate Development Ed Pearce. “When you combine ChoicePay’s leadership and expertise in ePayment services with eGistics’ proven track record in hosted archive services, the result is a flexible platform that enables billers and financial institutions to consolidate ePayments processing and reporting. This joint solution alliance is further evidence of eGistics’ ability to satisfy the evolving needs of the payments market.”
eGistics will provide ChoicePay with a hosted platform for the processing and archival of utility, communications, insurance and other payment remittances. The eGistics platform also will provide ChoicePay with an online statement archive and consumer access to statements via the Internet. In the near future, the plan is for eGistics to provide statement delivery to ChoicePay’s kiosk network, and the ability for ChoicePay’s call center to retrieve archived documents for timely problem resolution.
The joint capabilities offered by the eGistics/ ChoicePay alliance are designed to improve the overall consumer experience and help billers, remittance processors and financial institutions achieve better business outcomes through increased and more robust payment channels. In addition, payments processors will benefit from significant cost savings and flexibility in deploying and managing the multiple ePayment channels that support their business.
“ChoicePay’s technology architecture was designed with flexibility in mind,” said ChoicePay President Greg Adelson. “Our applications support each ePayment channel with interfaces and streamlined payment flows that make electronic payments easy and accessible for banks, billers and consumers. Working with eGistics as a go-to-market ally not only fills a need in the marketplace but further strengthens our growing position in the ePayments market.”
The alliance with ChoicePay is part of eGistics’ broader strategy to build on its archive market leadership as financial institutions and billers migrate to electronic payments capture and clearing.
About ChoicePay
ChoicePay, Inc. is an electronic bill payment solutions provider and a subsidiary of Tulsa National Bancshares, Inc., a federally regulated bank holding company. ChoicePay began as an electronic lockbox for billers in 1996 with the mission of streamlining high-volume bill-payment processes. The company makes available a comprehensive suite of ACH, credit card, and cash payment options via the Internet, bilingual Interactive Voice Response (IVR), bilingual call center, unattended walk-up kiosks, and attended walk-in retail locations. VISA® and MasterCard® International have certified ChoicePay as a Cardholder Information Security Program (CISP) compliant service provider that has met the Payment Card Industry (PCI) Data Security Standard requirements. For more information, visit www.choicepaycorp.com.
About eGistics, Inc.
eGistics pioneered the use of hosted image and data archive, management and delivery services in the financial services marketplace, delivering scalable platform services normally associated with software in a service environment (“SAS”). Today, its Infinite Digital Architecture (IDA) archives billions of images and supports mission-critical payments applications for the world’s leading financial services companies. Through its hosted business model, eGistics has consistently delivered significant business benefits for payments applications such as retail and wholesale receivables processing, check processing/Check 21, medical payments processing (EOBs) and records management, and loan processing/management. For more information about eGistics visit www.egisticsinc.com or call 214-256-4600.
“eGistics” and variations of the name are the property of eGistics, Inc., and are protected pursuant to an application filed with the United States Patent and Trademark Office.