Boston, MA 05/22/2014 (wallstreetpr) – Public Service Enterprise Group Inc. (NYSE:PEG) on May 13, 2014 revealed about the deal of its subsidiary- Public Service Electric and Gas Company, with TIO Networks Corp. for the purpose of making bill payment stalls available at various locations.
About The Bill Payment Stalls
The newly established partnership will enable deployment of bill payment stalls by TIO Networks at 16 different walk-in centers in Public Service Electric and Gas Company. The utility company, at present, caters to around 1.8 million gas customers as well as 2.2 million electricity customers. All these customers will now be able to enjoy easy access to faster and convenient ways of making bill payments. The bill payment stalls will accept payments in bank ACH in walk-in offices, checks as well as in cash. These stalls will also offer the advantage of extended hours to allow customers in making payment from the local retail shops through cash.
Result Of The Alliance
The partnership between these two companies enables to offer real-time posting apart from payment stall services in all the customer service centers of Public Service Electric and Gas Company. At present, there are over 2000 authorised payment capabilities which offer similar kind of services to the customers for their benefits. These services are offered through the local retailers. The partnership between these two companies will also allow the customers of the utility company to get easy accessibility of the accelerated payments facility and that too on the basis of real-time process. The partnership between these companies will, therefore, offer better customer service.
Rating Of The Company’s Stock
RBC Capital Markets’ analysts downgraded the rating to “Hold” while the research analysts at Wells Fargo contrarily upgraded the rating on the company’s stock to “Outperform.” Both these research analysts gave their own reasons for downgrading and upgrading the stock of Public Service Enterprise Group.
