San Francisco, CA (Vocus/PRWEB) February 01, 2011
BillFloat, Inc., the nation’s only provider of small-dollar loans for consumer bill payment, today announced that it has been selected by NewWave Communications, a cable television, high speed internet, and digital telephone service provider serving Arkansas, Illinois, Kentucky, Missouri, South Carolina and Tennessee.
Under the agreement, BillFloat is being offered as an alternative payment option to NewWave Communications’ subscribers on its website. Through BillFloat, subscribers can extend their payment up to 30 days. BillFloat’s unique solution combines its proprietary expedited customer payments platform and decisioning engine with small-dollar loans that are provided by a nationwide network of banks and State-licensed lenders.
“NewWave Communications is focused on every aspect of our subscriber’s experience including the payments process. BillFloat provides our customers with flexibility and convenience,” said Kathy Klipfel, Billing and Credit Manager of NewWave Communications. “Our pilot program has been received very well. BillFloat has provided an extra dimension to our payments, and a great amenity for our customers.”
“The tight demographic match between NewWave Communications’ customer base and ours make this a great opportunity for all parties,” said Ryan Gilbert, BillFloat CEO. “NewWave Communications saw the potential value for BillFloat very early in the process. They placed their customer’s needs first, but on a parallel track, NewWave Communications has also addressed strategic issues including the elimination of collections hassles and a reduction in churn. On all levels of the implementation and roll out, NewWave Communications has been an ideal partner.”
Once a NewWave Communications subscriber is accepted and verified by BillFloat, the funds required for the transaction are sourced from a network of banks and lenders. BillFloat pays the consumer’s bill directly to NewWave Communications, and later debits the amount owed by the consumer, plus BillFloat’s service fee, from the consumer’s bank account.
About BillFloat, Inc.
BillFloat was founded in 2009 by a team of experienced financial services entrepreneurs with investment and technology backing from First Round Capital (http://www.firstround.com), PayPal (http://www.paypal.com), and Venrock (http://www.venrock.com). Consumers use BillFloat to pay a bill and avoid late fees, overdraft charges, service termination, and high cost payday loans. Billers, including cell phone/cable companies, utility providers, and insurers, accelerate their cash flow through BillFloat’s easy to implement and secure system. The service is available on billers’ websites, leading content websites such as Credit.com, and through financial services partners including pre-paid and debit card issuers, payroll services, walk-in payment centers, and http://www.billfloat.com.
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