Princeton eCom Implements 106 Financial Institutions During The First Quarter of 2001

Apr 30, 2001, 01:00 ET from Princeton eCom

    PRINCETON, N.J., April 30 /PRNewswire/ -- Princeton eCom said today that
 it had implemented payment processing services for 106 banks and financial
 institutions during the first quarter of the year, bringing the number of
 financial institutions served by the company to 960.
     (Photo:  http://www.newscom.com/cgi-bin/prnh/20001229/PHF002LOGO-b
              http://www.newscom.com/cgi-bin/prnh/20001229/PHF002-a )
     "We continue to see strong demand for our payment processing services from
 financial institutions of all sizes," said Curt Welling, Princeton eCom's CEO.
 "Our `bank friendly' services, our long experience in processing payments, and
 our `brand-behind-the-brand' positioning are strong factors in our continued
 success in this area."
     Among other highlights of the quarter, Welling noted that Princeton eCom:
      -- Presented an average 325,000 summary bills online per month, up from
          approximately 300,000 bills in the fourth quarter of 2000.  Of that
          number, approximately 150,000 consumers linked back for bill detail.
      -- Processed an average 3 million payment transactions per month.
      -- Had 65 billers either live or in its implementation pipeline.
      -- Completed a strategic agreement with Trintech that will provide
          Princeton eCom with card processing and international capabilities.
          Princeton eCom will also host Trintech's ePayware software platform,
          enabling Trintech to offer it on an outsourced basis.
 
     ABOUT PRINCETON eCOM:
     Princeton eCom, the first company to present a bill on the Internet, is a
 leading provider of electronic billing and payment services to more than 1000
 corporations, banks, financial institutions and payment partners including
 Ameritech, GMAC Mortgage, United Technologies, UPS Capital, Mellon Global Cash
 Management, Verizon Wireless, Cellular One, Corillian, S1, FiServ, and Jack
 Henry.
     Through strategic alliances with banks, credit unions, home banking
 software providers, networks like MasterCard RPPS, and web portals, Princeton
 eCom has built a comprehensive bill distribution network.
     Princeton eCom enables businesses to present their consumers' bills and
 their business invoices on the Internet and it provides consumers and
 businesses with the ability to access and pay those bills online, over the
 phone, or using a wireless digital device.  It also provides electronic
 payment processing services to banks, credit unions, and other financial
 institutions. Princeton eCom's range of services includes electronic lockbox,
 electronic collection, and electronic credit card balance transfer services as
 well as customer care and customer service programs.
     Princeton eCom is a privately held company.  Major investors include New
 Century Equity Holdings Corp. (Nasdaq:   NCEH), Mellon Ventures, the private
 equity partnership of Mellon Financial Corporation (NYSE:   MEL), SG Capital
 Partners LLC, the U.S. merchant banking affiliate of Societe Generale,
 Bottomline Technologies, Terra Lycos Ventures L.P., a venture capital fund
 affiliated with Terra Lycos, Inc. (Nasdaq:   TRLY), and BT Investment Partners,
 Inc.
     Additional information about Princeton eCom can be obtained at
 www.princetonecom.com.
 
                     MAKE YOUR OPINION COUNT -  Click Here
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SOURCE Princeton eCom
    PRINCETON, N.J., April 30 /PRNewswire/ -- Princeton eCom said today that
 it had implemented payment processing services for 106 banks and financial
 institutions during the first quarter of the year, bringing the number of
 financial institutions served by the company to 960.
     (Photo:  http://www.newscom.com/cgi-bin/prnh/20001229/PHF002LOGO-b
              http://www.newscom.com/cgi-bin/prnh/20001229/PHF002-a )
     "We continue to see strong demand for our payment processing services from
 financial institutions of all sizes," said Curt Welling, Princeton eCom's CEO.
 "Our `bank friendly' services, our long experience in processing payments, and
 our `brand-behind-the-brand' positioning are strong factors in our continued
 success in this area."
     Among other highlights of the quarter, Welling noted that Princeton eCom:
      -- Presented an average 325,000 summary bills online per month, up from
          approximately 300,000 bills in the fourth quarter of 2000.  Of that
          number, approximately 150,000 consumers linked back for bill detail.
      -- Processed an average 3 million payment transactions per month.
      -- Had 65 billers either live or in its implementation pipeline.
      -- Completed a strategic agreement with Trintech that will provide
          Princeton eCom with card processing and international capabilities.
          Princeton eCom will also host Trintech's ePayware software platform,
          enabling Trintech to offer it on an outsourced basis.
 
     ABOUT PRINCETON eCOM:
     Princeton eCom, the first company to present a bill on the Internet, is a
 leading provider of electronic billing and payment services to more than 1000
 corporations, banks, financial institutions and payment partners including
 Ameritech, GMAC Mortgage, United Technologies, UPS Capital, Mellon Global Cash
 Management, Verizon Wireless, Cellular One, Corillian, S1, FiServ, and Jack
 Henry.
     Through strategic alliances with banks, credit unions, home banking
 software providers, networks like MasterCard RPPS, and web portals, Princeton
 eCom has built a comprehensive bill distribution network.
     Princeton eCom enables businesses to present their consumers' bills and
 their business invoices on the Internet and it provides consumers and
 businesses with the ability to access and pay those bills online, over the
 phone, or using a wireless digital device.  It also provides electronic
 payment processing services to banks, credit unions, and other financial
 institutions. Princeton eCom's range of services includes electronic lockbox,
 electronic collection, and electronic credit card balance transfer services as
 well as customer care and customer service programs.
     Princeton eCom is a privately held company.  Major investors include New
 Century Equity Holdings Corp. (Nasdaq:   NCEH), Mellon Ventures, the private
 equity partnership of Mellon Financial Corporation (NYSE:   MEL), SG Capital
 Partners LLC, the U.S. merchant banking affiliate of Societe Generale,
 Bottomline Technologies, Terra Lycos Ventures L.P., a venture capital fund
 affiliated with Terra Lycos, Inc. (Nasdaq:   TRLY), and BT Investment Partners,
 Inc.
     Additional information about Princeton eCom can be obtained at
 www.princetonecom.com.
 
                     MAKE YOUR OPINION COUNT -  Click Here
                http://tbutton.prnewswire.com/prn/11690X12300512
 
 SOURCE  Princeton eCom

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