Pete Kight's CheckFree: Pioneering Online Bill Payments in the US
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Code :BSM0035
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Region : USA
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Abstract: Since the 1990s, e-commerce has transformed tangible money into a piece of information, which can drive the finances of the corporate world through the click of a mouse. Pete Kight captured this opportunity to pioneer a system to provide electronic bill payment and presentment (EBPP) services to his customers. He removed the hassles of writing cheques, paste envelops and postage for paying bills by establishing CheckFree in 1981. CheckFree is an online service provider for e-commerce and payment services, which became the biggest player in the industry by 1993. In 2004-2005, CheckFree had annual sales of $757 million. |
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Pedagogical Objectives:
Keywords : Entrepreneurship Case Study, Electronic bill payment and presentment, e-Payments, Mastercard, On-line banking services, UIL Holdings Corporation, Aphelion Inc, Fitness software provider, Electronic commerce services, Bank of America, First electronic bill payment system, 2005 Entrepreneur of the year, Leading EBPP (electronic bill payment and presentment) firms in US, Attention Deficit Disorder (ADD)
Contents :
» Pete Kight and the Inception of CheckFree
» Growth of CheckFree
» Competitive Challenges
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