Session Objective:Examine Payment and Micropayment Systems
Checkfree has been a strong player in the market for electronic payment systems in the business to consumer space. We will discuss the issues related to growing this business in the business to business space.
CHAIRMAN & CEO, CHECKFREE CORPORATION
Pete Kight is the founder, Chairman and Chief Executive Officer of CheckFree Corporation, headquartered in Atlanta. At age 24 in his grandmother's basement, he founded CheckFree in 1981 to provide electronic funds transfer services.
CheckFree became a publicly held company in 1995, trading on the NASDAQ stock exchange under the symbol CKFR. Today the company plays a leadership role in the electronic billing and payment (EBP) industry, processing 12 million payments per month for nearly 3 million consumers. Customers include Internet portals like Yahoo!, banks, credit unions, brokerage firms such as Charles Schwab, and PFMs such as Intuit's Quicken; and Microsoft Money;.
CheckFree has more than 1,800 employees in six states and $250 million in revenues. Each of its divisions - Electronic Commerce, Software, and Investment Services, and Health and Fitness - leads the industry segment in which it competes.
As Chairman and CEO, Pete Kight has built relationships among CheckFree's Electronic Commerce division and more than 350 financial institutions. The division also serves thousands more through relationships with companies such as EDS, Fiserv, Intuit and Integrion. Additionally, the Company has multi-year contracts with more than 50 of the nation's top billers to provide online billing and payment through the CheckFree distribution network.
In 1992, Mr. Kight was selected the Ernst & Young, Entrepreneur of the Year in the Service Award category. He is also a member of the Board of Directors of Metatec Corporation.
We will also consider the Micro Payment market. Make sure that you visit the following links on Micro payments
Go to Benn Konsynski's Homepage