SAN FRANCISCO, Jan. 24, 2012 /PRNewswire/ -- BillFloat, Inc., the nation's only bill payment provider to give consumers more time to pay when they need it, announced today that Lee County Electric Cooperative (LCEC) enabled residents in the Southwestern region of Florida to add up to 30 more days to pay their monthly electric bill when finances are tight. LCEC is the latest electric company that BillFloat has added to its list of nearly 1,000 utility billers across the country.
The utility company looked to BillFloat to help increase customer convenience, decrease late payments and improve the customer experience. Customers can use BillFloat as a payment option for their electronic bill on the LCEC website or by talking with a customer service representative.
"These are challenging times, and we were looking for payment options that give our customers more flexibility and help them when they need it most," said Joseph Padgett, director of customer care operations at LCEC. "In the short while that we have been using BillFloat, we are finding that this alternative financing appeals to customers as an option for avoiding interruption of service, late fees and potential impact on their payment history."
BillFloat offers consumers more time to pay bills with more than 2,500 billers nationwide, including leading phone, cable, utility and insurance providers. The proceeds of a BillFloat loan are applied directly to the consumer's account at the biller and are repayable up to 30 days later, helping avoid late fees, service interruptions, overdraft fees and high-cost loans. Online enrollment is easy and open to all consumers with bank accounts and valid identification.
"As we build our nationwide platform, we are pleased to serve customers in the southeast to give them more time to pay their bills and help them break the cycle of debt," said Ryan Gilbert, CEO of BillFloat. "Working closely with leading utility companies like LCEC, we are able to help recuperate lost or delayed revenue, enabling them to spend less time on collections and more time on customer service."
Leading billing organizations, including utitility companies, offer BillFloat as a payment option to their customers to retain customers and enjoy the benefits of accelerated cash flow and improved collections. Instead of penalty charges or service termination if a bill payment is late, BillFloat billers are able to take a responsive approach to meeting consumer's needs.
About BillFloat, Inc.
BillFloat offers consumers "more time to pay" their bills on time to help avoid late fees, overdraft charges, service termination and high cost loans. Billers including utility providers, cable companies, wireless carriers and insurers accelerate their cash flow through BillFloat's easy to implement and secure system. The service is available on billers' websites and through financial services partners, including prepaid and debit card issuers, payroll services, walk-in payment centers, and billfloat.com. BillFloat is based in San Francisco, California with investment and technology backing from First Round Capital, PayPal, Venrock and angel investors.
Contact: Wes Robinson
SOURCE BillFloat, Inc.