CDS Global announces acquisition of PayDQ
DES MOINES, Iowa - CDS Global, one of the nation’s largest billing and remittance processing providers, announces the acquisition of PayDQ, a leading provider of Electronic Bill Presentment and Payment (EBPP) solutions.
This expansion to CDS Global’s product suite enables the organization to manage the comprehensive billing and payment processing needs of billers. From paper-based remittance processing and mailing services to e-billing and e-payments, including solutions for mobile, Interactive Voice Response (IVR), walk-in and remote deposit capture, CDS Global has become a one-stop shop for the marketplace.
With nearly 40 years of leadership in paper bill presentment and processing, CDS Global today supports the needs of nearly two-thirds of the publishing industry, the world’s largest nonprofit fundraisers, and a host of utility companies. “We have long been aware of billers’ growing need for help in migrating customers from paper to electronic solutions,” notes Malcolm Netburn, chairman and CEO, CDS Global. “In that pursuit, we worked with leading research firms in the electronic billing and payments space to validate our assessment of these marketplace needs, refine our vision and identify companies that could provide electronic payment and presentment solutions that complement CDS Global’s existing capabilities.”
As Emmett Higdon, payments industry analyst and founder of Prizm Strategy, explains, “Billers as diverse as utilities, telecommunications, nonprofits and even financial services continue to search for turnkey technical solutions paired with the marketing and operational savvy to convince consumers to make the switch [from paper to electronic].The technology is there, but few firms have the experience and the infrastructure to create a seamless billing and payment solution across delivery channels that include in-person, telephone, online and especially mobile.”
“The big challenge today is to enable and encourage more American consumers to streamline their bill-paying chores by providing them a way to reliably view and pay more and more of their bills online,” said Mark Schwanhausser, senior analyst for multichannel financial services at Javelin Strategy & Research. “But because paper isn’t going away for some time, achieving this goal will require serving customers in both the paper and digital worlds.”
The acquisition of PayDQ immediately provides CDS Global with the electronic billing and payment technologies needed to allow the company to deliver a combined paper and electronic solution across multiple channels. “CDS Global’s vision is to become the leader in fully integrated bill presentment and payment solutions with the interest, intent and tools to increase paper-to-electronic conversion,” said Netburn. “The integration of PayDQ with our organization is a critical step in accomplishing this vision, and we are very proud and excited to have them join our company.”
Kathy Norgaard, PayDQ president and CEO, adds, “We are thrilled to be part of the CDS Global team and the development of a fully integrated billing and payment offering. We share a common vision for the marketplace and are excited to bring such a compelling solution to market.”
Launched in 1996, PayDQ is a pioneer in supplying electronic billing and payment services for businesses who want to make it easier for customers to receive and pay their bills. PayDQ’s approach is to evolve customers’ paper-based, recurring billing and payment systems into a more efficient, customer-focused, electronic environment with minimal investment and an accelerated time to market. PayDQ is headquartered in Council Bluffs, Iowa, and services clients in the utility, insurance, cable/telecommunications, finance and retail industries.
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