CheckFree Corporation (Nasdaq: CKFR) today announced that it has signed a five-year contract extension with Wells Fargo & Company (NYSE: WFC) to continue as a provider of electronic billing and payment processing services.
CheckFree has been processing electronic bill payments for Wells Fargo since 1996. In 2003, the Company began delivering CheckFree e-Bills(SM) from hundreds of billing organizations to Wells Fargo's online customers.
"As a leading retail financial services company, Wells Fargo represents a significant relationship for CheckFree," said Steve Olsen, executive vice president and general manager of CheckFree's Electronic Commerce division. "We look forward to our continued partnership with the financial institution in delivering the convenience and control of electronic billing and payment services to more consumers, backed by our commitment to Sigma-level quality."
Added Armand Abhari, senior vice president and head of Online Bill Pay at Wells Fargo, "Wells Fargo is delighted to work with CheckFree along with other key payment processors and providers of e-bills, such as Metavante and MasterCard RPPS. By working with multiple partners, today we are able to provide more e-bills to our customers than any other financial institution."