City of Baltimore, MD Signs Agreement With Official Payments Corporation.Business Editors and Technology Writers STAMFORD, Conn.--(BUSINESS WIRE)--July 24, 2001 Real Estate/Personal Property Taxes, Utility Payments and Parking Citations Can Be Paid by Credit Card, Via Internet & Telephone Official Payments Corporation (Nasdaq:OPAY) (www.officialpayments.com) announced today an agreement to provide a new service for citizens of the City of Baltimore, MD. The service will allow Baltimore citizens to pay personal property and real estate taxes, utility payments and parking citations by credit card over the Internet or via telephone. This service agreement is part of a new business award. When the system goes live later this year, Baltimore residents will be able to pay taxes via Internet by visiting www.officialpayments.com, or via telephone by calling toll-free 800/2PAY-TAX. American Express American Express (NYSE: AXP), sometimes known as "AmEx" or "Amex", is a diversified global financial services company, headquartered in New York City. The company is best known for its credit card, charge card and traveler's cheque businesses. , Discover Card, MasterCard and Visa are the cards accepted by the program. Annually, the City of Baltimore, MD collects $401 million in real estate taxes, $60 million in personal property taxes, $201 million in utility payments, and $15 million in parking citations. Official Payments has similar agreements with over 850 government entities across the country. The Company has contacts with the Internal Revenue Service, 18 state governments, and the District of Columbia District of Columbia, federal district (2000 pop. 572,059, a 5.7% decrease in population since the 1990 census), 69 sq mi (179 sq km), on the east bank of the Potomac River, coextensive with the city of Washington, D.C. (the capital of the United States). to collect taxes, fees, and fines by credit card over the Internet and telephone. Official Payments Corp. charges taxpayers a convenience fee for processing these credit card transactions. The fee schedule can be found on the Internet at www.officialpayments.com. For example, a taxpayer who owed the City of Baltimore $1,800 in real estate taxes and charged their taxes would find a total of $1,846.00 on their credit card statement: $1,800 for the tax bill and $46 for the convenience fee. Taxpayers using credit cards with bonus rewards programs can, depending on their card's program, earn rewards, points, and cash-back or airline frequent flyer frequent flyer Hospital practice A popular term for a Pt who is regularly admitted to a particular ER or health care facility, for various reasons miles for paying their taxes. About Official Payments Corp. Official Payments Corporation (Nasdaq:OPAY) is the leading provider of electronic payment options to government entities. The company's principal business is enabling consumers to pay their government taxes, fees, fines, and utility bills by credit card, via Internet and telephone. The company is unequaled in market penetration Noun 1. market penetration - the extent to which a product is recognized and bought by customers in a particular market penetration - the act of entering into or through something; "the penetration of upper management by women" and national footprint. Official Payments has agreements to collect and process credit card payments with the Internal Revenue Service, 18 state governments, the District of Columbia, and over 850 county and municipal governments in 45 states across the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . In 2000, Official Payments collected and processed over $925 million in federal, state and local government payments. Official Payments was founded in the San Francisco Bay area “Bay Area” redirects here. For other uses, see Bay Area (disambiguation). The San Francisco Bay Area, colloquially known as the Bay Area or The Bay in 1996. Thomas R. Evans, the former President & CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of the Internet Company GeoCities, became Chairman & CEO of Official Payments in the summer of 1999. Mr. Evans brought Official Payments public in November of 1999, raising $80 million in its IPO (Initial Public Offering) The first time a company offers shares of stock to the public. While not a computer term per se, many founders, employees and insiders of computer companies have found this acronym more exciting than any tech term they ever heard. on the NASDAQ national market. The company has experienced rapid and sustained growth over the past seven reported quarters in revenue, new client acquisition, and addition of incremental Additional or increased growth, bulk, quantity, number, or value; enlarged. Incremental cost is additional or increased cost of an item or service apart from its actual cost. services to existing clients. The company's success can be attributed to the combination of an enormous market opportunity with a highly skilled and experienced management and staff, aggressive sales and marketing, and a core competency A core competency is something that a firm can do well and that meets the following three conditions specified by Hamel and Prahalad (1990):
Note: Official Payments Corp. and Official Payments Corp. logo are registered trademarks. All other products or company names mentioned are used for identification purposes only, and may be trademarks of their respective owners. |
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