Travelers Express Co. and Destiny Software Corp. have formed a non-exclusive alliance to provide electronic bill payment processing on the Internet.
Travelers Express, second to Checkfree Corp. as a bill payment processor, said it supports the Open Financial Exchange (OFX) specification with which Microsoft's Money and Intuit's Quicken software will comply.
Destiny Software provides on-line banking solutions for the Internet, America Online, voice response units, and call centers. It includes among its financial clients Bank of America, First USA Bank, and the Vanguard Group of Investment Companies.
Reade Frank, manager of marketing for Destiny Software, said, "We have complementary products and sell into the same markets, so a quality bill- pay service was a natural extension to our on-line banking system."
Destiny Software, Conshohocken, Pa., can now offer the bill-pay option to its clients and pass its transaction volume to Minneapolis-based Travelers Express.