CyberBills Announces Next-Generation E-Billing and E-Payment Technology for Its Total Bill Management Service.

SANTA CLARA, Calif.--(BUSINESS WIRE)--Dec. 7, 1999--

E-Billing Service Provides Paperless Invoices to Customers;

E-Payment Technology Offers Electronic Settlement for RPS Billers

CyberBills, creator of StatusFactory.com and the industry leader in offering total bill management over the Internet, today announced a next-generation electronic billing service for consumers and channel partners. This e-Billing service, which presents paperless invoices for StatusFactory.com's bill management services, is also available to CyberBills' channel partners so that they can present bills for their own service fees online. CyberBills' e-Billing service has already begun operation on its consumer portal, StatusFactory.com, and is now available to channel partners.

"Bill presentment is CyberBills' core product and service," said Murali Chirala, CyberBills president and co-founder. "Fees for our service are presented online with no paper counterpart, and with e-Billing, we now make this functionality available to our channel partners as well." The electronic bill that StatusFactory.com customers receive is presented free of charge and is not counted as one of the bills within the monthly service fee.

As a result of the new platform-independent e-Billing offering, CyberBills' channel partners can now offer electronic bill presentment for their services while realizing faster, more secure payments and less paperwork to process.

Today CyberBills is also announcing the capability of settling additional payments electronically for those listed as Remittance Processing Service (RPS) billers. RPS is the industry standard within the MasterCard network for processing payments electronically between bill presenters/consolidators and billers. Most of the large billers across the country are already part of the RPS system. A key benefit of RPS is that it provides consumers with more flexibility in their bill-management methods by enabling them to allocate funds for payments more closely to their actual payment due dates. CyberBills' e-Payment service will be available to both consumers and channel partners by the end of this month.

U.S. billers spend some $150 billion annually in processing costs associated with consumer bills alone, according to a study by BancBoston Robertson Stephens. Of this total, approximately $10 billion a year is spent just for printing and mailing of customer bills (averaging 40-60 cents per bill), based on a report from Booz Allen Hamilton.

"There are a host of additional time and cost-saving advantages associated with electronic settlement for both consumers, channel partners and RPS billers," Chirala said. "Our new e-Payment service is another important way that CyberBills is maintaining its leadership position. Today's announcement is evidence of our intent to keep up with advances in new Electronic Bill Presentment and Payment technologies and to continually enhance our e-infrastructure."

About CyberBills

Based in Santa Clara, Calif., CyberBills, the creator of StatusFactory.com, is the first company to offer total bill management over the Internet. Founded in 1998, CyberBills has rapidly developed and deployed methods and technology to support a single interface that allows consumers to view, pay, manage and automate all of their bills over the Internet. CyberBills offers its service directly to consumers at StatusFactory.com, as well as through its channel partners. For more information about CyberBills, visit www.cyberbills.com or www.statusfactory.com.