BACS and CheckFree Forge Online Billing Venture
A joint venture between BACS and CheckFree will develop and promote the adoption of online bill viewing and payment services provided by UK high street banks. The joint venture will link billers and banks together to deliver electronic bills and statements to consumers throughout the UK. Martin Kearsley, managing director of the new company, said: ‘We are offering consumers in the UK the opportunity to view and pay their bills through their existing online bank – a single, regularly used, highly secure site – for the first time. No need to remember multiple passwords for each biller site, no need to write cheques, no need to miss a payment. There are significant business advantages for billers and banks to adopt the service, and I believe it will change the way consumers will manage their money.’ Recent research found that over 7 million UK adults regularly bank online, while 3 million of those claim to already view and pay some bills online.