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Regulus Announces Availability of Electronic Payments Solution Capable of Handling Paper and Online Payments Within a Single System
(Marketwire Via Acquire Media NewsEdge) NAPA, CA, May 15 / MARKET WIRE/ --
Regulus
Group, the largest independent provider of paper and electronic
bill presentment and remittance processing
solutions in the United States, today announced general availability of the
expanded Regulus ePayments Suite. This state-of-the-art electronic bill
presentment and payment (EBPP) solution is capable of seamlessly handling
both paper and online presentment and payments within the same system.
Regulus forged the solution through a close collaboration and technology
partnership with ChoicePay, a provider of comprehensive ePayment services
for direct billers and resellers, including payment channels for IVR, Web,
CSR, walk-in and kiosks. The Regulus ePayments Suite provides companies
with the ability to offer these multiple payment channels through a single
vendor.
Through the expanded capabilities of the Regulus ePayments Suite, major
billers, such as financial, insurance and utility companies, can now:
-- Offer their customers total flexibility to pay their bills through the
method of their choosing, i.e. online, over the telephone or in-person at a
walk-in center or kiosk
-- Reduce the time required to reconcile customer accounts, because the
combined paper and online payment system creates a single-stream A/R file
for every customer
-- More efficiently manage cash flow and float by addressing the full
bill-to-cash lifecycle in a single system with a single vendor, regardless
of payment method
-- Save money and increase productivity by simplifying the complete EBPP
process through one integrated solution
"Sophisticated consumers demand multiple payment and presentment options.
For example, a customer may receive a paper bill but prefer to review his
balance online and pay over the phone," said Brian Mulford, Chief Product
and Information Technology Officer, Regulus Group. "We understand that and
have designed our EBPP solution to accommodate the broadest range of bill
payment methods and channels. Consumers will always prefer such flexibility
and together with ChoicePay, we'll continue to innovate new ways to offer
maximum consumer choices while minimizing customers' management
requirements."
Electronic bill payment has gone mainstream and consumer preferences for
electronic payment channels continue to evolve as the technology advances.
Forty-eight percent of payments were made by non-paper methods in 2007.
That figure is expected to rise to 64 percent by 2011, according to a
recent study conducted by Ait? Group, a leading independent research and
advisory firm focused on business, IT and regulatory issues and their
impact on the financial services industry. (For more insight into EBPP
consumer trends, see Regulus' EBPP whitepaper by clicking here or by
visiting http://www.regulusgroup.com/PDF/EBPP_White_Paper.pdf).
"Our collaboration with Regulus simplifies and streamlines the entire
accounts receivable process, whether it's a paper or electronic
transaction," said Greg Adelson, President, ChoicePay. "ChoicePay's
leading-edge technology ensures that Regulus customers can meet consumer
demands for multiple payment channels with client implementations completed
in days or weeks instead of weeks or months, the current industry
standard."
Regulus and ChoicePay will demonstrate the expanded Regulus ePayments Suite
next week at NACHA (The Electronic Payments Association) Payments 2008 in
Las Vegas. Regulus will be located in Booth #628 and ChoicePay will be
located in Booth #200. The event runs from May 18-21 at the MGM Grand Hotel
& Casino.
The Regulus ePayments Suite is available immediately to new and existing
Regulus customers. Customers can easily apply their corporate look and feel
to the solution, enhancing brand recognition and end-user confidence. This
expanded selection of e-payments, EBPP and related options can be rapidly
deployed and scaled by customers as needed, with no investment in
technology infrastructure required. Additionally, the expanded Regulus
ePayments Suite integrates seamlessly into the Regulus Transactions2 (T2)
suite of end-to-end presentment and remittance software and services.
Regulus selected ChoicePay, a Payment Card Industry (PCI) compliant
provider, as its e-payment solution partner based upon the strength of
ChoicePay's technology, security and compliance. ChoicePay is also highly
regarded for the ease-of-use and powerful management capabilities of its
payment systems. The foundation of the ChoicePay e-payment platform is an
advanced Service Oriented Architecture (SOA) that allows for easy
integration with Regulus' T2 solutions, allowing customers to quickly get
up-and-running with ePayments products. Additionally, the ChoicePay
solution is a proven, standardized platform that still offers more than 300
customizable e-payment settings. This allows Regulus customers to initiate
EBPP systems very quickly with precise tailoring to their exact business
requirements.
Regulus' T2 suite of products and services provides companies in the
finance, healthcare, telecom, utility, and other industries with much
greater control and visibility over their billing and remittance processes.
The T2 suite creates value at every stage of the transaction lifecycle by
increasing access to valuable data and combining traditional paper with
state-of-the-art electronic services. One in three FORTUNE 50 companies
uses Regulus' services. Regulus stores and receives over four billion
images annually and processes over two billion transactions each year and
nearly $32 per month of the recurring bills in every American household.
About ChoicePay
ChoicePay, Inc. is an electronic bill payment services 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.choicepay.com.
About Regulus Group
Founded in 1995, Regulus Group is the largest independent payment processor
in the United States, servicing nearly two billion paper and electronic
transactions every year for Fortune 500 customers. Regulus delivers an
end-to-end solution, starting from release of the customer's billing file
for invoicing, through the posting of the associated paper or electronic
payment, to support of customer care and collections. By leveraging data
from the total payment cycle, Regulus is able to offer value-added services
that provide measurable process efficiencies. The company is headquartered
in Napa, California, and has offices nationwide. For more information,
visit the company's web site at www.regulusgroup.com.
Press Contacts:
Josh Wendroff
RegulusEmail Contact
Julie James
ChoicePayEmail Contact
Ted Rossman
New Venture CommunicationsEmail Contact
Copyright ? 2008 Marketwire
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