Service Enables Overstock.com Customers to Pay By Check
SAN FRANCISCO, Nov. 27 /PRNewswire/ -- Western Union(R) MoneyZap(SM), the
online check payment service from First Data Corp. (NYSE: FDC) today announced
that customers of Overstock.com, an Internet leader for name-brands at
clearance prices, can now use Western Union MoneyZap to pay for their Internet
purchases from their existing checking account.
Western Union MoneyZap empowers Overstock.com to tap into the way America
shops and pays. The Western Union MoneyZap service opens up the world of
eCommerce to those consumers who write 18 to 20 billion checks annually at
point-of-sale locations and to the more than 80 million Americans who don't
use credit cards.
With more than 4 million unique visitors per month, Overstock.com sells
directly to a large base of customers who value buying brand-name merchandise
at a discount. Since launching the company in October 1999, Overstock.com has
quickly become a Top 10 Internet shopping site. (Source: NetScore, September
2001).
As part of the launch, consumers will be offered an incentive to try the
Western Union MoneyZap option. The two companies unveiled a special Holiday
promotion, whereby shoppers will receive an automatic $5 rebate when they
complete their first purchases on Overstock.com, paying via the Western Union
MoneyZap online check option.
"Just as we pride ourselves on providing Overstock.com shoppers with a
broad array of product choices, we also want to offer them multiple payment
options as well. Western Union MoneyZap provides our customers with the power
to pay quickly and securely -- however they choose," said Overstock.com's CEO,
Patrick Byrne.
"By rolling-out the Western Union MoneyZap service, Overstock.com joins
the growing number of merchants who are bringing electronic commerce to
mainstream consumers. Overstock.com can now convert more browsers to buyers,
leveraging the trusted Western Union MoneyZap brand to make Overstock.com
accessible to consumers who prefer checks," said Elaine Bolle, President and
CEO, Achex, Inc., the First Data Corp. subsidiary that operates the Western
Union MoneyZap service.
The Western Union MoneyZap online check payment service integrates easily
into online shopping sites and offers an easy-to-use and trusted payment
choice for consumers. In addition, the unique Western Union MoneyZap
registration model helps relieve merchants of the burdens of processing online
check transactions. Additionally, consumer financial information is stored
offline by WesternUnion(R) MoneyZap in a high-security data vault, and is not
shared with or stored by merchants.
About Overstock.com
A privately held company located in Salt Lake City, Utah, Overstock.com
acquires excess inventory through massive closeout purchases and bankruptcies
and sells it through the Internet, passing tremendous savings along to its
customers. Capitalized and managed by a team with a successful track record
in value investing and managing offline and online companies, Overstock.com
can be found online at http://www.overstock.com .
About Western Union(R) MoneyZap and First Data
Western Union(R) MoneyZap(SM) is the online check payment service from
First Data Corp. (NYSE: FDC). The service provides the benefit of payment
choice, enabling merchants to better serve consumers and small businesses who
prefer to pay from their existing checking accounts. The Western Union
MoneyZap service is operated by Achex, Inc., a subsidiary of First Data Corp.
The Western Union MoneyZap service is part of the First Data Corp. family of
leading electronic commerce and payment services that includes Western Union
and Telecheck.
First Data Corp. (NYSE: FDC), with global headquarters in Denver, powers
the global economy. Serving approximately 2.6 million merchant locations,
more than 1,400 card issuers and millions of consumers, First Data makes it
easier, faster and more secure for people and businesses to buy goods and
services, using virtually any form of payment: credit, debit, smart card,
stored-value card or check at the point-of-sale, over the Internet or by money
transfer. For more information, please visit the company's Web site at
http://www.firstdata.com .
SOURCE First Data Corp.
 back to top
Related links:
http://www.firstdata.com
CONTACT:
Susan Lehman, +1-510-832-6006, or Robert
Silverman, +1-212-918-6728, both of Clio Communications, for
First Data Corp.; or Wendy Carver-Herbert of First Data,
+1-303-967-6416
|
