TD Banknorth Expands Payment Options Through Princeton eCom's
CollectPay One-Time Pay(TM) Solution
PRINCETON, N.J., June 21 /PRNewswire/ -- Princeton eCom, a leading provider of
electronic payment solutions, today announced that it has been selected by TD
Banknorth Inc. (NYSE:BNK) to provide enhanced payment technology and tools that
will enable multiple loan payment options for customers. Princeton eCom's
management tools integrate data from all payment channels into a single
streamlined customer service interface providing ease of use, multiple
reporting and tracking options, and convenience.
(Logo: http://www.newscom.com/cgi-bin/prnh/20001229/PHF002LOGO-b) CollectPay One-Time Pay(TM) provides TD Banknorth customers with the ability to
now make one-time payments via the Web or through an Interactive Voice Response
(IVR) system to compliment live customer service representatives. TD Banknorth
also uses Princeton eCom to support retail banking services through Princeton
eCom's PayAnyone(TM) solution that enables online bill payment. TD Banknorth is
in the process of enhancing their PayAnyone solution by adding Princeton eCom's
Real-Time Digital Scanline(R) technology. This enhancement will enable TD
Banknorth to experience the lowest claims rates in the industry.
"By utilizing CollectPay One-Time Pay(TM), TD Banknorth has significantly
enhanced our payment channels, provided more convenience for our customers, and
lowered costs through a reduction in paper payments and payment claims," said
Kendall Beal, VP eCommerce at TD Banknorth. "It's just one more way we go above
and beyond for our customers." "TD Banknorth's selection of Princeton eCom to support customer service for
consumer lending is a great compliment and demonstrates the value we bring to
our clients," said Ron Averett, president and CEO of Princeton eCom. "More
banks are turning to Princeton eCom to be a single-source for cost-effective
and reliable solutions that provide excellent service for their retail banking
and billing operations." About TD Banknorth, N.A.
TD Banknorth Inc. is a leading banking and financial services company
headquartered in Portland, Maine and a majority-owned subsidiary of TD Bank
Financial Group. At March 31, 2005, the Company had more than $32 billion of
total consolidated assets and provided financial services to over 1.3 million
households in the Northeast. TD Banknorth's banking subsidiary, TD Banknorth,
N.A., operates banking divisions in Maine, New Hampshire, Massachusetts,
Connecticut, Vermont and upstate New York. TD Banknorth and TD Banknorth, N.A. also operate subsidiaries and divisions in insurance, wealth management,
merchant services, mortgage banking, government banking and other financial
services and offer investment products in association with PrimeVest Financial
Services, Inc. TD Banknorth Inc. trades on the New York Stock Exchange under
the symbol "BNK".
About Princeton eCom Princeton eCom is an industry leading provider of electronic payment solutions
with more than 1400 banks and 200 biller customers, including many of the Top
100 banks and Fortune 1000 corporate billers. Offering one of the few single
vendor solutions for payments and presentment, Princeton eCom gives customers
the convenience of multi-channel payment options and seamless integration with
current systems and delivers the lowest claims rate in the industry that
ensures 99.98 percent of all payments are processed successfully. For more
information, visit http://www.princetonecom.com/. http://www.newscom.com/cgi-bin/prnh/20001229/PHF002LOGO-b http://photoarchive.ap.org/ DATASOURCE: Princeton eCom CONTACT: Gene King or Lauren Mackiel of Keating & Co., +1-973-966-1100, for Princeton eCom Web site: http://www.princetonecom.com/
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