ING Bank and Getronics will be working together to develop a European platform for the electronic distribution and processing of payment slips. The two companies have formally joined forces in order to assist businesses with sending and processing billing and invoice information for private individuals. On 10 July 2006, ING Bank and Getronics PinkRoccade signed a memorandum of understanding to create a Biller Service Provider (BSP) joint venture. The new Biller Service Provider anticipates the increasing integration of invoicing and payment streams and will initially be aimed at businesses providing services to private individuals. The BSP also intends to provide services in due course for business-to-business invoicing. In addition to processing payment slips, the new system will, in the future, also be capable of handling other types of documents. The Biller Service Provider provides businesses with the opportunity to send electronic (or digital) payment slips to private individuals’ Internet banking facilities. The individual concerned can then read the digital payment slip and pay it with a single click, without having to endlessly fill in details, as is now the case in the Netherlands. With a couple of mouseclicks, individuals will also be able to view the relevant invoice on the Internet in a highly secure environment. Once payment has been made, the digital payment slips and relevant invoices will be archived immediately. Getronics PinkRoccade is market leader in the Netherlands in the production and fulfilment of transaction documents, such as payment slips. Clients who are presently outsourcing the production and processing of their payment slips to Getronics PinkRoccade, and potential clients, now have the possibility of using digital payment slips. Getronics PinkRoccade is developing and managing the secure ICT-platform for the Biller Service Provider. Getronics PinkRoccade will mainly be using existing, market-proven products in order to ensure that the Biller Service Provider provides a fully cost-effective, secure and high quality service. ING Bank is market leader in processing payments for business. ING bank is providing and developing financial services for the joint venture, which will further improve ING’s service provision and its position in the area of international and national payments & cash management.