BillingTree Exceeds Growth Targets: Achieves 24 Percent Quarter-Over-Quarter Growth in Q1

PHOENIX, May 26, 2011 /PRNewswire/ -- BillingTree, one of the nation's leading on-demand payment processors, today announced quarter-over-quarter company growth of 24 percent during Q1 of 2011. This equates to 33 percent growth year-over-year, ahead of the 20 percent growth projected by the company at the end of 2010. During the quarter BillingTree added Art Coutcher, a leading vertical market specialist, to its Utility Industry Sales Team and expanded its Marketing Events Team to increase the company's vertical penetration into the Healthcare, Insurance and Utility Markets.

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Art Coutcher brings 6 years of experience in Executive Management from the ARM, banking, finance, ACH and Credit Card industries. Prior to joining BillingTree, he was Director of Sales at Castel and Intelligent Contacts, and Division President for Sony Corporation.  

BillingTree's success was recognized in a recent report by financial services research analysts Aite Group, which rated the company as the largest biller direct vendor. The Aite report highlighted mobile payment technology as a major catalyst in driving growth in mobile bill payments. BillingTree is one of the leading pioneers in the mobile payments field with the launch of its Mobile Solutions Suite™ earlier this year which includes text alerts and payments, pre-paid accounts and mobile optimized web payment forms. Two utilities have already signed up to use its mobile solutions suite.

"To be recognized by the Aite Group as being the top biller direct vendor combined with our 24 percent growth in Q1 is a testament to the quality and scope of our existing offerings," commented Scott McCollum, BillingTree's President. "In Q1 of this year we have increased our utility customer base with the addition of two energy companies, and have successfully launched our mobile solutions suite. BillingTree is set to continue this level of growth over the course of 2011."

Looking forward into 2011, BillingTree will be presenting and hosting workshops at the Utility Industry's Conference Connect July Summer School in San Francisco and Boston.

BillingTree supplies the leading fully integrated, multi-channel electronic payment platform to a growing list of Industries, including Insurance, Utilities, such as power, cable, municipal, and phone, as well as Healthcare and Subscription-billed services. Benefits of electronic payment solutions include an accelerated availability of consumer funds, reduced costs associated with manual-payment processing, improved cash management, and integrated processing by managing all payments, returns, and corrections through a single portal.

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About BillingTree

The proven leader in on-demand payment processing, BillingTree empowers customers with competitive advantage through a simplification of the billing and receivables process. By delivering the most innovative technology while making it as easy and inexpensive as possible to accept payments, BillingTree has revolutionized the payments landscape. Our software-as-a-service (SaaS) model delivers industry-leading payment solutions, proven integration, and point-and-click simplicity. BillingTree's focus on innovation has allowed us to help more than 1,600 customers eliminate manual processes and automate their payment cycles. BillingTree – Growth is our Business. For more information, visit www.mybillingtree.com or call 877.4.BILLTREE.

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SOURCE BillingTree