Source: Company, 9/02, and Financial DNA estimates, 2/02

Princeton eCom, founded in 1983 as a communications industry biller, is now a major epayments player. The company serves 1,350 financial institution clients (Q2 2002) with revenue growth a strong 50% YTD compared to a year ago; and 70% in 2001 compared to 2000. Major investors include New Century Equity Holdings Corp., Mellon Ventures, SG Capital Partners, Bottomline Technologies, Terra Lycos Ventures, and BT Investment Partners.

Princeton eCom provides two pay-anyone services, one for consumers and the other for small businesses. Users can make payments online, over the telephone, by wireless device, or auto debit. Payments can be drawn from checking or savings accounts and in some cased charged to credit cards. The company does not market services directly to end-users.

Number of Customers

The company provides integrated bill presentment and payment services to large telecommunication, utility, and financial services companies including 20 Fortune 500 companies. More than 1,400 banks and financial institutions, including eight super-regionals, use pay-anyone payment services.

Table 1

Princeton eCom Transaction Volumes, 2002

Source: Company, 9/02 except, (e) total user base estimate from Financial DNA, 2/02

Pay-anyone bill payment clients
according to company Web site, 9/20/02.