Payment Data Systems Inc. of San Antonio has signed a letter of intent to sell the domain name and trademark Bills.com to Alivio Holdings LLC of San Mateo, Calif., for $964,500.
As part of the deal, announced Tuesday, Payment Data would build and run a private-label bill-payment Web site for Alivio's Freedom Financial Network LLC, a consumer debt-management company.
Payment Data would get a fee for each subscriber who signs up; the guaranteed minimum payment would be $72,000. Freedom Financial would commit at least $180,000 to marketing the site.
Another Alivio unit, Freedom Tax Relief, would hire Payment Data to process automated clearing house, returned check, and credit card transactions.
Payment Data, which has been struggling, said revenue from the deal would put it into the black this quarter and pay off its debts.
