Princeton eCom reaches $3 billion in payments processed monthly

Princeton, NJ, Nov. 16, 2005 — Princeton eCom, a provider of integrated electronic payment and bill presentment solutions for banks and billers, reported at its annual user conference that it has experienced a year of significant growth that has deepened its leadership in the EBPP industry.

This year, Princeton eCom says it will process 90 million transactions and three billion dollars in payments. The company has also achieved an electronic transaction rate of 82 percent which is comparable to the top e-rates in the industry.

Princeton eCom told conference attendees that since last year’s event, the company has won new business and renewed existing contracts with top ten and top 100 banks, including Commerce Bancorp and Citizens Financial Group. The company also extended its presence in the utility industry, serving organizations such as the Los Angeles Department of Water and Power and Miami Dade Water and Sewer Department.

Princeton eCom recently introduced LockBoxPlus WebACH, which enables small billers to receive payments electronically from home banking systems and affords them the advantage of being included in Princeton eCom’s biller directory which is accessed by over 1400 financial institutions. Historically, only large billers have had the capabilities to utilize electronic payments. Princeton eCom currently has over 750 electronic endpoints and plans to double that number in the coming year.

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