PRINCETON, N.J., October 17, 2001 — Princeton eCom, a provider of electronic billing and payment services, unveiled today a new turnkey program that will equip its biller clients with the tools to spur consumer adoption of electronic bill presentment and payment services (EBPP).
The new program — Princeton eCom’s eMersion Marketing System — helps billers persuade their customers to enroll in services that enable them to view and pay bills online, over the phone, or on a digital phone or personal digital assistant. The system will be offered to Princeton eCom’s biller clients at no cost.
The system contains a series of marketing and communication tools that will be updated regularly. The system and updates are available on CD-ROM or through Princeton eCom’s consumer adoption client extranet.
Princeton eCom’s eMersion Marketing System consists of four main components: * Sample marketing materials that can be customized. These include point-of-sale displays, brochures, bill stuffers, billing statement messages, envelope teasers, scripts for on-hold messages for customer service and order lines, articles for newsletters, space ads, banner ads, and e-mail marketing messages. Customer-oriented frequently asked questions and press release templates are also included in the kit with sample artwork. * A best practices checklist that outlines the steps other billers have taken to build adoption. * Training and incentive materials billers can share with their employees. * A quarterly newsletter entitled Princeton eCom’s eMersion Trends, which will highlight consumer adoption success stories in the industry.
Princeton eCom CEO Curt Welling said the consumer adoption program draws on the company’s history as the first company to present a bill on the Internet and its 17 years of experience in electronic payments process.
“Our experience has taught us that consumers will not flock to electronic billing and payment programs unless we effectively lead them,” said Welling. “The Princeton eCom eMersion Marketing System provides a series of marketing materials that are based on our experience with a wide range of billers that have industry- adoption results.”
“Electronic bill presentment and payment remains a service that is better understood by the EBPP vendor community than many of the billers themselves,” says Paul Hughes, director of the billing and payment applications strategy division at The Yankee Group, a Boston technology market research firm. “Princeton eCom has taken a ‘let’s work together’ approach with its clients to drive usership. This is advantageous to both client billers and Princeton eCom.”
Note to editors: Samples of Princeton eCom’s eMersion Marketing System materials are available in printed and electronic format. Welling and Hughes are available for interviews.
ABOUT PRINCETON eCOM: Princeton eCom, the first company to present a bill on the Internet, provides electronic billing, payment processing, and bill distribution services to consumer and business billers, banks and financial institutions, and personal financial management software customers. Princeton eCom’s comprehensive suite of products and services enable businesses to better manage their billing, accounts receivable and accounts payable functions; extend customer relationships, and allow consumers to access and pay bills electronically at the time and place of their choice online, over the phone, or using a digital phone or personal digital assistant.
Currently, Princeton eCom processes more than 3.5 million online customer transactions and presents more than 600,000 bills online per month. Princeton eCom’s distribution network includes the largest personal financial management software (Quicken Bill Manager®, acquired from Intuit in May 2001), the Web portals, Spectrum EBP, MasterCard RPPS, and the home banking software providers.
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.