Internet Payment Exchange Launches Check Intercept

2008-10-07 18:18:03 -

- For Internet Payment Exchange Media contact Sarah Cannon, 678-781-7216 Internet Payment Exchange (IPayX), a Toledo, Ohio-based provider of electronic billing and payment (EBP) and customer service solutions to healthcare providers, utility companies, municipal governments and other organizations, announced the launch of Check Intercept, a software solution that intercepts paper-based checks drafted from payment clearinghouses and converts them into electronic payments.

Available as an add-on feature to other IPayX EBP services or as a standalone service, Check Intercept enables billers to receive remittance electronically from online banking Web sites at a significantly lower cost compared to processing paper-based payments that arrive in check or list format. The speed and accuracy of automated payment processing through Check Intercept increases back-office efficiencies, eliminates the need to manage multiple payment originator relationships and reduces customer service calls.

"As more consumers pay their bills through online banking, businesses receiving payments have an opportunity to improve payment efficiency by automating as much of the back-office process as possible," said Douglas Braun, president and CEO of IPayX. "Billers estimate that as much as 20 percent of consumer payments are received through financial institution bill pay services. Check Intercept not only saves payment processing expenses, but it can also expedite a significant portion of a biller's receivables."

About Internet Payment Exchange (IPayX)

Founded in 1999, Toledo, Ohio-based Internet Payment Exchange (IPayX) provides desktop-based electronic billing and payment (EBP) technology solutions to healthcare providers, utility companies, municipal governments and other organizations. IPayX Software as a Service (SaaS) solutions include eCareview Patient Portal Service, ePayPoint Cash Receipts Service, eInvoice Delivery Service and eInvoice Delivery Service - B2B Edition. For more information on IPayX, visit www.ipayx.com.

Transforms paper-based checks from payment clearinghouses into
electronic payments