Deluxe Expands Digital Payments Network Capability by Adding BillGO to Portfolio
May 03 2022 - 11:15AM
Business Wire
This initiative will increase Deluxe Payment
Exchange payment processing annually by billions of dollars
Deluxe (NYSE:DLX), a Trusted Payments and Business Technology™
company, has entered into an agreement with BillGO, one of the
industry’s largest bill payment platforms and fintech trailblazer,
to provide digitized check delivery of payments through the Deluxe
Payment Exchange Network.
The Deluxe Payment Exchange (DPX) is a digital payment platform
for businesses of all sizes that allows payers options in how
payments are made – digitally through a direct feed to a lockbox,
through the issuance of an eCheck, or printed and mailed. The DPX
platform also provides the recipient options to receive the
payment. Deluxe and BillGO have leveraged the power of their
respective networks and by linking their innovative technologies to
identify payment preferences and electronic delivery addresses,
have developed a “network-of-networks,” opening the door to other
faster payment methods for customers of both companies.
“The BillGO platform will be able to process millions of
payments per year through DPX, measurably growing the number of
payments throughout the Deluxe network,” explained Michael Reed,
President of Payments for Deluxe. “This enables additional digital
payment options while lowering costs and increasing efficiency for
new and existing Deluxe and BillGO customers.”
Using this multi-layered payment waterfall model, Deluxe and
BillGO will more efficiently and quickly send payments for more
customers. For example, if a payment comes into BillGO and it can’t
be processed through BillGO’s payment network, rather than
resorting to mailing a check to a lockbox, BillGO can send it to
Deluxe to be digitized and processed through the DPX Network. DPX
provides BillGO’s customers with more payment options, more
efficiency, and significant cost savings.
“Sixty-five percent of small and mid-size businesses in the U.S.
still use paper checks to manage their day-to-day payments,” said
Cindy O’Neill, President, and General Manager of BillGO’s Biller
Solutions. “In some cases, due to the time it takes checks to
clear, this is less than efficient. By working with Deluxe to
create a network-of-networks solution, we are enabling business
owners make payments faster, more efficiently and more securely
than ever before.”
Checks remain a vital component in the B2B and B2C payment
landscape as they are built into current accounts payable and
receivable processes/systems. As the Original Payments Company™,
Deluxe works with customers from all aspects of the payment space
and provides solutions based on existing and future needs.
The DPX Network resulted from Deluxe partnering with leading
lockbox providers to enable sending a check and associated
remittance information digitally, eliminating the need to mail the
payment. This capability assigns disbursement methods based on
insights gathered from the directories and issues payments via
preferred methods. For BillGO, this means sending millions of
payments a month more efficiently for its clients.
More information on the Deluxe Payment Exchange can be found
here: www.deluxe.com/payments/digital.
About Deluxe Corporation
Deluxe, a Trusted Payments and Business Technology™ company,
champions business so communities thrive. Our solutions help
businesses pay and get paid and grow. For more than 100 years,
Deluxe customers have relied on our solutions and platforms at all
stages of their lifecycle, from start-up to maturity. Our powerful
scale supports millions of small businesses, thousands of vital
financial institutions and hundreds of the world’s largest consumer
brands, while processing more than $2.8 trillion in annual payment
volume. Our reach, scale and distribution channels position Deluxe
to be our customers’ most trusted business partner. To learn how we
can help your business, visit us at www.deluxe.com,
www.facebook.com/deluxecorp, www.linkedin.com/company/deluxe, or
www.twitter.com/deluxe.
About BillGO
Driven by the core belief that everyone deserves access to a
healthy financial future, BillGO’s award-winning real-time bill
management and payments platform transforms the dreaded necessity
of managing and paying bills into an opportunity for financial
well-being. BillGO empowers over 32 million consumers, thousands of
financial institutions & fintechs to seamlessly make payments
to over 170,000 supplier endpoints – transforming the way people
make and receive payments. By combining speed, choice and
intelligence with simple integration, BillGO is accelerating and
delivering a new way to bill pay.
Visit BillGO.com and find out why it’s GO time.
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version on businesswire.com: https://www.businesswire.com/news/home/20220503005917/en/
Cameron Potts, VP of Corporate Communications 651-233-7735
cameron.potts@deluxe.com
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