Knox County, Tennessee Has Chosen Official Payments to Provide Electronic Payment Services for Tax Collections
05 October 2005 - 11:06PM
Business Wire
Official Payments Corp.(R), a wholly owned subsidiary of Tier
Technologies, Inc. (Nasdaq:TIER), today announced that the citizens
of Knox County, Tennessee now have the new option of making real
estate and personal property tax payments online using a credit
card or electronic check through Official Payments Corp. The Knox
County Trustee's Office has signed an agreement with Official
Payments to allow citizens to make their real estate and personal
property tax payments with a VISA(R), American Express(R),
Discover(R), MasterCard(R), or electronic check by visiting
www.officialpayments.com. The system is now available to accept
payments for the property tax payment season which began October 1,
2005. "Providing these secure, new electronic tax payment
alternatives to the citizens of Knox County 24 hours a day, seven
days a week, reflects our commitment to making government better
every day," said Knox County Trustee, Mike Lowe. "We are very
pleased that Knox County has joined the other Tennessee government
entities that rely on Official Payments to provide our trusted and
convenient electronic tax payment options," said James R. Weaver,
Tier's Chief Executive Officer. "Knox County collected
approximately $200 million in real estate and personal property tax
payments in its last fiscal year." Official Payments provides
electronic payment services for the Internal Revenue Service, 25
states, the District of Columbia and more than 1,800 local
government clients nationwide. Official Payments' principal
business is processing electronic payments on behalf of government
entities via its Web site, www.officialpayments.com, and its
toll-free telephone number, 1-800-2PAY-TAX(SM). Official Payments
charges citizens a convenience fee for the service. Citizens using
credit or debit cards with bonus rewards programs may, depending on
their card's program, earn reward points, airline frequent flyer
miles or cash back for paying their taxes and fees. About Tier Tier
is a leading provider of transaction processing and packaged
software and systems integration services for public sector
clients. We combine our understanding of enterprise-wide systems
with domain knowledge enabling our clients to rapidly channel
emerging technologies into their operations. We focus on sectors
that we believe are driven by forces that make demand for our
services less discretionary and are likely to provide us with
recurring long-term revenue streams. More information about the
Company is available at www.Tier.com. Statements made in this press
release that are not historical facts are forward-looking
statements that are made pursuant to the safe harbor provisions of
the Securities Litigation Reform Act of 1995. The Company
undertakes no obligation to update any such forward looking
statements. Each of these statements is made as of the date hereof
based only on current information and expectations that are
inherently subject to change and involve a number of risks and
uncertainties. Actual events or results may differ materially from
those projected in any of such statements due to various factors,
including but not limited to failure by end consumers to make
payments with credit or debit cards or electronic checks through
Official Payments Corporation; impact of lower transaction volumes
than anticipated; the potential loss of funding by clients,
including due to government budget shortfalls or revisions to
mandated statutes; the timing, initiation, completion, renewal,
extension or early termination of client projects; the Company's
ability to realize revenues from its business development
opportunities; and unanticipated claims as a result of project
performance, including due to the failure of software providers or
subcontractors to satisfactorily complete engagements. For a
discussion of these and other factors which may cause our actual
events or results to differ from those projected, please refer to
the Company's annual report on Form 10-K for the year ended Sept.
30, 2004, our most recent quarterly report on Form 10-Q for the
quarter ended June 30, 2005, as well as other filings with the SEC.
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