New Jersey-based Paytrust is to introduce reciprocal links to the Spectrum electronic bill presentment and payment network.
Under the agreement, Paytrust will certify its CSP (consumer service provider) platform to Spectrum's payment and presentment network - providing Spectrum member banks with the ability to offer their 7.4 million customers a complete online bill management solution, and allowing Paytrust to receive electronic bills and issue electronic payments via the Spectrum network.
Including its three founders - JPMorganChase, Wachovia and Wells Fargo - 22 financial institutions currently belong to the Spectrum network or have signed letters of intent to participate in the network.