Moneta Acquires Retail Payments Product From CheckFree
22 September 2007 - 4:30AM
PR Newswire (US)
Customers Now Have Simpler, More Secure Way to Buy Online Using
Their Checking Accounts CHARLOTTE, N.C., Sept. 21 /PRNewswire/ --
Moneta, the new online payment system, announced today that it has
acquired the Retail Payments (RPS) product formerly owned by
CheckFree, a leading provider of financial electronic commerce
services and products. The RPS technology allows consumers to
purchase goods and services by transferring money directly from
their checking accounts to participating merchants. This simplified
process eliminates a large portion of the fees merchants assume
with traditional purchases made on credit cards and through other
online payment providers. RPS has been a successful CheckFree
service offering for more than two years. Under the terms of the
acquisition agreement, all customer accounts and CheckFree
employees who support the RPS product will transfer to Moneta.
CheckFree will continue to partner with Moneta and provide payment
processing. CheckFree Vice Chairman Mark Johnson sees the sale of
RPS as a unique opportunity for both his company and Moneta: "With
a targeted focus on online retail payments, Moneta has an excellent
opportunity to increase the number of websites where consumers can
pay online using their checking accounts. CheckFree will continue
to process payments made using the Moneta retail payment service,
and we are looking forward to working with them to provide a
convenient and secure online payment option." Consumers who use the
Moneta service will benefit from enhanced security and account
portability when making online purchases. Consumers who register
with Moneta are provided with a four-digit PIN that is used to
complete all purchases, eliminating the security concerns most
consumers have about submitting sensitive personal information over
the Internet. Consumers can also log online to their accounts and
quickly change the bank account that funds their Moneta
transactions. "Consumers who want to pay for online purchases using
a traditional bank account will enjoy the convenience of this
service," said Moneta President Hans Zandhuis. "Having one place to
change payment method information overcomes the major hassles
consumers experience when their credit card expires or their
banking relationship changes and they need to update dozens of
merchant sites with new account information," explained Zandhuis.
"The consolidated location of financial information also makes
managing money much simpler for the average consumer." Moneta has
already established relationships with several major airlines and
the RPS technology that it has acquired from CheckFree will allow
Moneta to expand its position both within the travel industry and
among all online and traditional merchants. Merchants and consumers
can register for Moneta at http://www.monetacorp.com/ or by using
the payment pages on the sites with which Moneta partners. About
Moneta (http://www.monetacorp.com/) Founded in 2007, Moneta is a
financial services company dedicated to providing alternate forms
of payments that are both more secure and cost effective than
existing methods. Moneta offers the sole payment option available
today that is truly debit only. Moneta provides consumers unrivaled
security and simplicity while providing merchants with savings of
50% or more on credit card transactions, no ancillary fees, no
chargebacks, and a database of customers that facilitates effective
marketing. About CheckFree (http://www.checkfreecorp.com/) Founded
in 1981, CheckFree Corporation (NASDAQ:CKFR) provides financial
electronic commerce services and products to organizations around
the world. CheckFree Electronic Commerce solutions enable financial
services providers to offer the convenience of online banking, and
along with billers, to offer the convenience of receiving and
paying household bills online, via phone or in person through
retail outlets. CheckFree Investment Services provides a broad
range of investment management solutions and outsourced services to
hundreds of financial services organizations, which manage about
$1.8 trillion in assets. CheckFree Software develops, markets and
supports software applications that are used by financial
institutions to process more than two- thirds of the nearly 14
billion Automated Clearing House transactions in the United States.
The division also provides financial institutions and other
organizations with payment processing and consulting,
reconciliation and exception management, fraud and risk management,
cash and logistics management, and compliance software and
services. Press inquiries or requests for additional information;
please contact Gordon Courtney at (704) 335-1825. DATASOURCE:
Moneta CONTACT: Gordon Courtney of Moneta, +1-704-335-1825 Web
site: http://www.monetacorp.com/ http://www.checkfreecorp.com/
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