Billeo Announces Bill Payment Enhancements

Billeo consists of:

• Billeo Toolbar: By sitting on the user's browser, the toolbar alerts them when it's time to pay a bill. It then navigates to each company's website with a click, gives them access to their online account by automatically filling in passwords, and even fills in credit and debit card and checking account information to complete the payment. The consumer gets immediate payment confirmation and Billeo saves the web receipt confirming payment to the company.
• Billeo Directory: With the largest directory of companies that accept online bill payment via their websites, over 80% of most consumers' bills can be found here. Billeo's nearly 6,000 participating companies span 26 categories, including utility, mortgage and cable companies, standard phone and wireless service providers, and credit card companies. Users can easily find the companies they pay, and they can manage all of their bills and purchases in one place. And over 3,500 accept payment via credit or debit card. If a company is not in the directory, users can easily pay any bill via check because Billeo will take them directly to their bank's bill pay website.
• Billeo Bill Pay: Billeo lets you create an electronic shoebox. It helps you manage reminders for upcoming bills due and maintains a complete electronic record of all payments and web receipt payment confirmations, so there's no more printing and filing of web confirmation pages or receipts.

Additionally, Billeo offers two Assistants -- The Password Assistant, which stores and manages all passwords securely and privately on your own computer, and the Shopping Assistant, which allows users to get the most out of their online shopping bill pay by managing purchases and receipts.

"Consumers are leading a quiet revolution by taking control of the way they buy products and pay bills online," said Murali Subbarao, Founder and CEO of Billeo, Inc. "They want to pay their bills their way -- when they want, where they want, and with the card of their choice. Billeo allows them to do just that: securely, and in the easiest way possible. They not only save time, but reap significant reward points and have more control over both the money they spend and the money they keep."

Billeo streamlines online bill payment from one-step password search and log-on to one-click completion of online shopping forms and easy payment of bills. Consumers that pay bills online typically visit 12-15 different biller websites per month. In the process, they have to remember scores of URLs, passwords, payment due dates and print out confirmation forms. With Billeo, this complicated and unwieldy process is eliminated.

Setting up Billeo takes just minutes, yet saves hundreds of hours each year and cuts the tedium and work of online purchasing and bill paying. Bills can even be paid on the day they are due, giving consumers access to their funds until the minute payment is necessary. With Billeo, payment is instantaneous and users get a payment confirmation immediately. With bank bill payment sites you can have up to a five day delay in payment.

Billeo Reports allows them to quickly see how, when and where they spend, time their payments better, and see every transaction they've made in one place, no matter how they've paid -- by debit or credit card or directly through online banking. Better control of payments can translate into higher credit scores.

And Billeo's Biller Directory keeps consumers safe from phishing sites. Users' sensitive information such as passwords, credit card numbers and bank account information is stored on their computer and is encrypted and safe. This allows the consumer to retain control and gives them the freedom to 'forget' their passwords.

Over 30 million households already pay bills at merchant/supplier web sites in the United States and by 2011, that will grow to over 42 million.

Issuers are realizing significantly greater and more varied card use, as well as increased brand loyalty. For example, a leading card association has identified that over $1.4 trillion in bill payment volume can be converted to card payments. Partner card issuers can offer a private labeled version of Billeo to their card holders. By offering this service, issuers can realize approximately $60 in revenues per user, per month. Issuers can easily and quickly private label the solution and offer a bill pay solution for debit and credit card payments. And Billeo is the only provider that is promoted by over 40 U.S. banks/issuers, including six of the top ten banks/issuers.

Companies that sell products or services are also realizing the rewards of online bill payment. By providing an improved user experience, a wider variety of payment options, and lower billing costs, merchants are seeing significant increases in revenues. And everyone reaps the green benefits of paying bills online.

Billeo's solutions are free to consumers and are available now at www.billeo.com.