CLEVELAND - KeyCorp has agreed to have BillingZone LLC supply Key's corporate customers an electronic bill presentment and payment service.
The service, to be started as a pilot project in the next several months, would let corporate clients of the $85 billion-asset banking company bill their customers and get payments electronically.
BillingZone was formed in March as a fifty-fifty joint venture of PNC Bank Corp. and Perot Systems Corp. Last month the company announced that it had successfully processed its first fully electronic corporate invoice.
"Our strategic alliance with BillingZone enables us to expand the relationships we have built with our corporate clients and to be a critical link in e-commerce transactions," said Linda Grandstaff, executive vice president of KeyCorp. "We are automating and streamlining tedious paper processes in a way that follows a company's typical financial workflow, from initial billing to payment and payment processing."