BillMatrix Unit of Fiserv Briefs California Public Utilities Commission; Payment Industry Experts Providing Counsel on Implementing Recent Legislation.DALLAS -- BillMatrix Corporation, a provider of outsourced telephone- and Internet-based payment services and a subsidiary of Fiserv, Inc. (Nasdaq:FISV FISV Fiserv, Inc (stock symbol) ), today briefed the California Public Utilities Commission The California Public Utilities Commission (CPUC; also often commonly referred to as simply the PUC) [1] is a state Public Utilities Commission which regulates privately-owned utilities in the state of California, including electric power, on the use of credit cards, ATM debit cards, electronic checks and recurring transactions for bill payment. Requested to participate in an informational workshop on the implementation of the California Assembly's recent legislation (AB 746) allowing California consumers to pay their utility bills using credit or debit cards, the regulatory agency regulatory agency Independent government commission charged by the legislature with setting and enforcing standards for specific industries in the private sector. The concept was invented by the U.S. called upon the company's twelve years of experience in providing electronic payment services Electronic Payment Services (Chinese: 易辦事), commonly known as EPS, is the largest electronic payment system in Hong Kong, Macau and Shenzhen starting from 1985. The service is provided by EPS Company (Hong Kong) Limited. . Three other state utility regulatory bodies have asked BillMatrix to provide similar information, including the Rhode Island Rhode Island, island, United States Rhode Island, island, 15 mi (24 km) long and 5 mi (8 km) wide, S R.I., at the entrance to Narragansett Bay. It is the largest island in the state, with steep cliffs and excellent beaches. and the New Hampshire Public Utilities Commissions and the Kansas Corporation Commission The Kansas Corporation Commission is a Kansas government agency that regulates public utilities, common carriers, oil and gas production, telecommunications companies, and motor carriers. . BillMatrix reviewed industry best practices, consumer adoption trends and the intersecting regulations surrounding electronic payment methods with the California Commissioners and their staff. The California Public Utilities Commission (PUC (Public Utility Commission) A regulatory body in every state in the U.S. that governs public utilities within its jurisdiction such as electricity, gas, oil, sewer, water, transportation and telephone service. Some states call it the Public Service Commission (PSC). ) regulates privately owned telecommunications, electric, natural gas, water, railroad, rail transit, and passenger transportation companies. They are responsible for ensuring that customers have safe, reliable utility service at reasonable rates, protecting against fraud, and promoting the health of California's economy. Jerry Portocalis, BillMatrix' Senior Vice President of Sales and Marketing, delivered the presentation to the group. "We appreciate this opportunity to provide input to the utility industry regarding the upcoming changes," said Portocalis. "Rapid advances in payment solution technologies are presenting more options for the consumer. With precise planning, utility companies will be poised to optimize revenue intake options while enhancing the overall customer transaction experience." About BillMatrix Corporation Founded in 1994, BillMatrix Corp. provides outsourced alternatives to traditional payment methods using the latest automated technologies. BillMatrix, which became part of Fiserv in August 2005, works with more than 120 companies to supplement paper-based methods of remittance with convenient, efficient and cost-effective electronic payments. Consumers, customer service representatives and other third-party agents are able to make payments via hosted Internet and telephone systems using credit cards, ATM debit cards and electronic check payment options. For more information, visit www.BillMatrix.com. Fiserv, Inc. is a provider of information management systems and services to the financial and health benefits industries, including transaction processing Updating the appropriate database records as soon as a transaction (order, payment, etc.) is entered into the computer. It may also imply that confirmations are sent at the same time. Transaction processing systems are the backbone of an organization because they update constantly. , outsourcing, business process outsourcing Business process outsourcing (BPO) is the contracting of a specific business task, such as payroll, to a third-party service provider. Usually, BPO is implemented as a cost-saving measure for tasks that a company requires but does not depend upon to maintain its position in and software and systems solutions. The company serves more than 17,000 clients worldwide, including banks, credit unions, financial planners/investment advisers, insurance companies and agents, self-insured employers, lenders and savings institutions. Headquartered in Brookfield, Wis., Fiserv reported $3.7 billion in processing and services revenues for 2005. Fiserv was ranked the largest provider of information technology services to the U.S. financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. industry in the 2004 and 2005 FinTech 100 survey by the American Banker newspaper and the Financial Insights research firm. Fiserv can be found on the Internet at www.fiserv.com. |
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