UPS Expands into Electronic Bill Paying

FRAMINGHAM (04/27/2000) - Atlanta-based United Parcel Service of America Inc.'s financial services arm this week announced that it's teaming up with two technology vendors to offer electronic bill payment and presentment services to its business-to-business customers.

UPS Capital Corp. on Tuesday said it had signed deals to work jointly with Princeton eCom in Princeton, New Jersey, and Bottomline Technologies in Portsmouth, New Hampshire.

Through the new service, businesses will be able to use the Internet to track the status of their invoices and adjust payments based on the status of the goods that are being delivered to them, UPS said. For example, a company that received damaged goods could tell UPS to withhold part of its payment.

UPS said in a statement that it's developing a service focused on the payer, not just on the biller. "The key to triggering bill payment, after all, is proof that the goods arrived," said Bob Bernabucci, president of UPS Capital.

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