Just in Time Solutions announces comprehensive Internet billing solution; New set of services to integrate CyberCash Internet payment services for full interactive online bill payment and presentment solutions

Business Wire, June 10, 1997

SAN FRANCISCO--(BUSINESS WIRE)--June 10, 1997--Just in Time Solutions (JITS) today announced a comprehensive set of services that will enable companies to adopt one-to-one customer and money-saving strategies with Internet billing.

JITS will provide four interrelated services that will enable businesses to launch Internet-based bill delivery and payment. JITS will utilize customized software and services as well as incorporate CyberCash Inc.'s (NASDAQ:CYCH) suite of Internet payment services for online payments.

A "Win-Win" Opportunity for Both Business and Customers

Internet billing provides a unique opportunity for billing companies and their customers to gain substantial benefits. A recent study from Mentis predicts that 69% of the billers with more than 5 million customers will create an interactive billing capability by the end of 1997.

Billing companies have the potential for significant cost savings -- as much as 70% savings on printing and mailing costs alone.

In addition, billers can achieve huge additional savings by offering customer service from the Internet bill -- to provide answers to frequently asked questions and other personalized information.

Richard Crone, VP and GM of CyberCash, said that "providing a service which offers billing directly from their website, companies have the capability to utilize several one-to-one marketing and customer service opportunities; such as cross-selling products and services, selling of banner ad space, chargeable (per impression) hypertext links to other company's sites, and much more."

Their customers will enjoy the convenience of viewing and paying their bills online in a single session. This will not only give them immediate access to round-the-clock customer support, but will eliminate the need to submit a physical check and provide customers with greater understanding of their bills through enhanced, interactive billing information.

Mike Lanza, CEO and president of Just in Time Solutions Inc. said that "All major billers have the opportunity to transform customer relationships by offering rich interactive services around the Internet bill. JITS is prepared to help billers start that process today."

A Complete Strategy for Internet Billing

JITS' Internet Billing Solution (IBS) provides comprehensive selyzes competitors' investment in Internet billgration of existing data, including legacy bill data, with the IB server.

- An IB Web site that JITS will develop for the biller.

JITS conducts an audit to assist billers in quantifying the potential savings and identifies opportunities to enhance customer loyalty through IB Audit consulting services. From this audit, JITS develops a comprehensive plan that draws together the myriad business, technology, and partnering requirements.

Implementation of this plan enables JITS to incorporate a customized IB Server, which provides access to a full range of services to online customers. Additionally, JITS provides IB Systems Integration services to merge the company's legacy data with the IB server.

Finally, JITS will create a large-scale billing and customer care IB Web site to manage the one-to-one interaction with customers.

Delivering bills through the Web is one aspect of the interactive billing solution. Billers must secure payment online. JITS integrates CyberCash's services as an Internet payment solution. CyberCash is the onlly provider that allows billers to accept all three forms of payment securely over the Internet: electronic check, credit cards and electronic cash.

More Than Cost Savings

Companies can offer customers powerful tools for analyzing statements, built into the online bill. For example, customers could get immediate details on a particular item, their annual payment history by key category, and accrued savings calculations for promotional plans.

Billers can offer unique pricing and service programs that competitors could not match without comparable customer data.

In addition, billers can financially benefit in a number of ways from the Internet traffic gained from Web-based billing. The IB Web site will enable:

- Cross-selling of other products and services

- Selling of banner advertisements

- Chargeable (per impression) hypertext links from the biller's site to other cooperating sites

All of these benefits provide companies with an Internet billing strategy to transform their remittance processing from a cost center into a revenue center.

CyberCash Inc., of Reston, Va., is a leading developer of software and service solutions for secure financial transactions over the Internet. CyberCash works with virtually all financial processing institutions and is currently working with VISA and MasterCard to develop and implement the Secure Electronic Transaction (SET) protocol for on-line credit card transactions.

The company offers a complete suite of Internet payment solutions including: the company's initial service, which handles payments using major credit cards; the company's innovative micropayment service that enables cash transactions; and the PayNow Secure Electronic Check Service which allows consumer-to-business and business-to-business funds transfer via checking accounts.