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Next Generation Bank Bill Pay Site Creates New Bank and Merchant Revenue
Posted by: douglas fischer on 5/26/2008 7:23:24 AM
Funding Needed:
Above $1mil 		Category:
Marketing / Advertising 		Website :
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Location :
JERICHO, New York, USA 		Viewed : 306 times
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Description:
pi-COMM’s ClickandPay Platform transforms a Bank’s current Bill Pay Site into a differentiated, powerful and profitable e-Commerce site, establishing a new revenue generating and cost efficient Bank portal.
1. Banks will enable consumers to have direct, secure, simultaneous and seamless access to view and pay all of their detailed bills without ever leaving the bank website.
2. The consumer will have complete interactivity with their individual billers.
3. ClickandPay enables banks to establish new & organic sources of revenue growth.
4. New Merchant/Biller revenue is established, while lowering
the cost of acquiring new customers and/or upselling new products & services to existing customers.
This capability is unprecedented and creates an enormous market opportunity for pi-COMM to bring Banks, Merchants and Consumers together in a mutually compelling business model that provides pi-COMM and its investors with multiple revenue channels.

With CkickandPay,
Banks can::
1. Utilize full bill presentment & payment of e-bills as well as their pay anyone capabilities
2. Transform bill pay site to a robust cross-sell and e-commerce destination.
3. Cross-sell Bank Products to a Consumer while he or she is viewing the Banks related bills & statements.
4. Cross-sell Products from customer's Merchants.

A Merchant can:
1. Provide detailed Merchant bills while the Consumer is utilizing the Bank Bill Pay Site.
2. Provide highly analytically based communications/ads/marketing to Consumers.

Financial Processors can choose to:
1. Enter into a higher margin online/e-Commerce transaction processing business.
2. Establish own service that will keep existing relationships from processing bill payments through competing networks.
• Management has over 100 years of collective senior executive management experience and contacts within the financial services industry from core money center banks. In addition, pi-COMM will establish post financing an advisory board consisting of former Presidents and Executive VP’s of key financial institutions and their business units.
• Proof of pi-COMM's Concept
The basic premise of both online banking/bill pay and e-Commerce are well documented and operationally successful. Just as Google excelled at leveraging the search engine market and turning it into the vast advertising/ marketing giant, pi-COMM will reach the under utilized, yet rapidly growing community of online banking/ bill pay users. We intend to utilize the funding to launch a pilot with small regional Banks and Credit Unions, some of which have expressed preliminary interest in utilizing the ClickandPay service.

Patent: The Company has filed an initial patent application with additional applications about to be filed for various process patents with the US and International Patent offices.
•
Technology: To date, the company has developed an active real-time (Internet based) prototype utilizing live accounts at Bank of America and Commerce Bank. In addition, the Company’s prototype utilizes active accounts with Cablevision, Verizon and Delta Airlines. A live demonstration of the prototype is available for review. The Company has developed the architectural and technical specification documentation after considerable scoping efforts and is ready to commercially develop the production version of its platform.

Exit Strategy: There has been a track record of consolidation through acquisitions in the Online Banking/EBPP industry since 1999. The company believes this trend will continue as competing institutions are looking for ways to differentiate their current offerings and drive new & organic revenue growth. pi-COMM’s innovative platform fits squarely into the solutions that have been widely adopted and acquired.
DOUGLAS FISCHER
PRESIDENT
pi-COMM, LLC


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