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This summer was marked by several major technological developments at Midwest Payment Systems, including the company's first foray into the consumer market with a bill-payment system developed over the last three years.
BillPayer 2000 allows consumers to automatically pay their regular bills, varying the payment date or amount regardless of the bank involved in the process, all by telephone. More than SO,000 customers and 14 companies have signed up so far, and MPS expects to have 150,000 consumers using the service by the end of the year.
Prospects for the system, which requires no more than two and a half minutes of a consumer's time to sign up, look...