Articles
Princeton eCom and Striata Announce Strategic Alliance to Advance Next
Generation Electronic Billing and Payments - ( Jul 2005 )
CollectPay Connect(TM) Processes Payments Made Through Striata's Innovative Email
Billing Solution
Princeton eCom http://www.princetonecom.com,
the leading single source provider of integrated electronic payment and bill presentment solutions for banks and
billers, today announced a strategic alliance with Striata, in which it will be the
preferred processor for payments made via the pioneering Striata eBilling Suite that
enables bills to be paid directly from a secure email bill. Through their partnership,
Princeton eCom and Striata will expand and enhance payment channel options for clients to
offer customers as well as increase the adoption of this new technology through the joint
development of additional clients.
"Striata has established itself as a leader of innovation in the electronic billing
industry through its original and proven technology that provides the efficiency clients
are seeking and the convenience their customers expect," said Garin Toren, COO of Striata.
"Princeton eCom's success in developing the most accurate and effective payment processing
solution available aligns well with our objectives and will help us make a powerful
solution even better."
Traditionally, emails have been used to provide text alerts to customers as well as offer
an embedded link that would redirect the recipient to a Website where an online payment
could be made. Striata's solution eliminates many steps previously needed to pay a bill
online and greatly reduces the time required to complete the transaction by enabling a,
'two-click' process for presentment and payment to be made direct from the email bill
without the need for the user to register or login at a Website.
Through the use of Princeton eCom's CollectPay Connect(TM), Striata will securely post
customers' payment transaction data (credit/debit cards or ACH) to Princeton eCom's
encrypted Application Program Interface which will process the payment in real time and
deliver a confirmation message. Based on a leading technology, Princeton eCom's solution
will ensure faster remittances and less claims for Striata and its customers.
"Princeton eCom is the fastest growing provider of electronic bill presentment and payment
solutions because of the accuracy, reliability and effectiveness we deliver," said Ron
Averett, president and CEO of Princeton eCom. "The partnership with Striata is a testament
to our success and demonstrates the value we can offer for other solutions providers as
well."
In addition to serving banks and financial institutions, Princeton eCom also provides
solutions for the healthcare, insurance and utility industries, among others, and
currently processes more than $2 billion in payments each month. Princeton eCom recently
announced 195 new implementations, which included a sharp increase in billers as well as
additional top 100 financial institutions. The company has also experienced a substantial
growth in the volume of payments it processes --- setting the stage for the company to
achieve considerable growth in 2005.
About Striata
Striata is an application software developer and service provider focused on enabling
secure electronic communication. Striata specializes in the secure delivery & payment of
bills, statements, pay-stubs, invoices and all other confidential documents, via encrypted
email. Striata has been a provider of software and services in the electronic messaging
arena since 1999 and has offices in New York, London, Sydney and Johannesburg, and
partners in Ireland, Germany, The Netherlands, Central & South America, and Malaysia.
Visit http://www.striata.com.
About Princeton eCom
Princeton eCom is an industry leading provider of electronic payment solutions with more
than 1400 banks and 200 biller customers, including many of the Top 100 banks and Fortune
1000 corporate billers. Offering one of the few single vendor solutions for payments and
presentment, Princeton eCom gives customers the convenience of multi-channel payment
options and seamless integration with current systems and delivers the lowest claims rate
in the industry that ensures 99.98 percent of all payments are processed successfully. For
more information, visit
http://www.princetonecom.com.
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Why choose Striata?
Flexible
Configurable
Multi-channel
Cross platform
Levels of control
Extensive reporting
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