Magazine article American Banker

Chase Is Starting to Rack Up B2B E-Bill Customers

Magazine article American Banker

Chase Is Starting to Rack Up B2B E-Bill Customers

Article excerpt

Chase Manhattan Bank's corporate customers have just begun adopting an electronic bill delivery service that has been available almost a year.

The bank announced Wednesday that Rochester Gas and Electric has been using the service since May and Sunoco Inc. has just adopted it. The service has been available since last September, when Chase began delivering electronic bills to customers of its own credit card subsidiary.

But the biller market has only just gotten around to embracing electronic billing. "It was just late last year that we began to see interest on the biller side as well as on the consumer side percolating," said Richard Erario, electronic bill payment and presentment executive in Chase Treasury Solutions.

Chase said five additional biller customers, which it did not identify, are expected to be using the service by yearend. The bank said it is in talks with 75 to 100 additional clients about implementing the service.

Chase has gotten its billing service to market more quickly than Spectrum, the electronic payment and presentment network of which Chase is a founder, along with First Union and Wells Fargo. Only Wells Fargo can present bills to consumers via Spectrum. Chase and First Union are expected to be able to do so in the fall, a Chase spokeswoman said.

Once Spectrum is fully operational, customers of the three founding banks and of the 12 other expected bank members will be able to access any bill on the network from their own bank's Web site. Chase intends to ease the entry of Rochester Gas and Electric and Sunoco into Spectrum by acting as their sponsor into the network.

"Chase provides clients a single pipeline to any or all points where consumers want to view their bills," Mr. Erario said. "We are indifferent to where we need to send the biller invoices, and one of those points we send them through is Spectrum. …

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