MILWAUKEE, March 1, 2005 â Metavante today announced that AT&T (NYSE: "T"), a market leader in local, long distance, and Internet services, is launching a relationship with the Metavante Payments Network for electronic bill delivery. Metavante Corporation is the financial technology subsidiary of Marshall & Ilsley Corporation (NYSE: MI).
Under this agreement, AT&T will distribute customer bills directly into the Metavante Payments Network, which in turn delivers bills to a customerâs bill pay consolidator currently connected to the network. AT&T customers can also view and pay their bill on AT&Tâs website. AT&T, which ranks among the worldâs premier providers of voice, video and data communications, has offered its customers the speed and convenience of online billing and payment options for more than five years.
"We strive to reach consumers in the way they want to be reached through a direct biller website or a third-party bill pay provider," said Kevin Breen, vice president, AT&T billing management. "Metavanteâs open, non-proprietary payment distribution network is aligned with our strategy to use multiple delivery channels for electronic bills, allowing our customers to pay their bills when and where they want to pay them. We anticipate up to 20 percent in savings, compared to paper bills, by adopting the Metavante Payments Network."
Metavante continues to increase the volume of electronic bills flowing through the Metavante Payments Network by operating an open, non-proprietary system that enables any biller or consolidator to participate in the network.
"Making eBills more accessible to customers stimulates adoption, enabling billers like AT&T to enjoy substantial cost savings through faster payment collection and paper suppression," said Frank DâAngelo, senior executive vice president and group executive, Metavante Payment Solutions. "We look forward to working with AT&T to increase the availability of electronic bills for its customers."