Mastercard Expands Bill Pay Exchange Partners
October 20 2019 - 02:45PM
Business Wire
Mastercard today announced that it is working with several new
partners, including ConEd, to roll out Mastercard Bill Pay
Exchange. Avidia Bank, Aliaswire Inc., OSG Billing Services and
Transactis will be among the first to offer Bill Pay Exchange to
their customers.
Mastercard rolled out Bill Pay Exchange to make it easier for
consumers to view, manage and pay telecom, utility, rent, credit
card, mortgage and other personal bills without having to set up
accounts with different billers, remember multiple passwords, and
log in to multiple websites.
With Bill Pay Exchange, consumers can pay their bills either
with cards, real-time payments or from their bank account, and
receive confirmation of payment all within their banking app or
website.
This solution will give billers access to a new billing and
payment channel, which can reduce the cost of mailing paper bills
and processing checks, provide streamlined reconciliation and lower
customer support costs due to added payment transparency. Billers
will also have the option to accept cards, real-time payments, or
traditional bank account payments as they do on their own
websites.
“ConEd is committed to continuously improving our billing and
payment options for our customers,” said Frank D’Amadeo, director
of Treasury at ConEd. “By delivering bills directly to our
customers’ banks, they have a new option to simplify how they can
see and pay their bills.”
Mastercard will also be testing the solution with eight other
partners, including Best Digital Solutions, Inlet, Nordis
Technologies, Papaya, Payrailz, Plastiq, RR Donnelley (RRD), and
Synapse to make the solution available for consumers. These
partners collectively will help drive adoption and scale for the
solution in the United States.
“We’re excited to be partnering with Mastercard on the Bill Pay
Exchange, as the solution aligns perfectly with our transformative
approach to customer communications,” said Jonathan Gustave,
Executive Vice President of OSG Billing Services.
“Since first announcing Bill Pay Exchange, Mastercard has
continued to evolve this digital solution to benefit consumers,
billers and financial institutions alike,” said Ronald Shultz,
executive vice president, New Payment Flows, North America,
Mastercard. “With the help of our trusted pilot partners, this
solution will bring speed, transparency and efficiency to bill
payments for the masses.”
QUOTE SHEET:
"We are thrilled to bring our comprehensive content management
capabilities and strong client relationships to our partnership
with Bill Pay Exchange. We look forward to assisting Mastercard in
its efforts to better connect with its customers through this new
offering." – John Pecaric, President, RRD Business
Services.
“Mastercard Bill Pay Exchange brings compelling new presentment
and payment experiences, including a choice of payment instruments,
to Inlet’s expanding biller network while enabling improved
consumer interactions at our bill pay channels.” – Christopher
Johnson, CEO at Inlet.
“Through our partnership with Mastercard, our biller clients can
deliver their consumers a significantly improved online bank bill
pay experience. The Bill Pay Exchange is a perfect fit for our
strategy to offer innovative billing and payment options to our
customers. This product is a game changer for online bill pay and
we are excited to be a part of it.” – Ronnie Selinger,
President/CEO Nordis Technologies.
“With Bill Pay Exchange, Mastercard is leading the industry with
an innovative approach to improving the bill payment user
experience and transforming the relationship between billers and
their financial institutions. Aliaswire is excited to participate
as one of the initial partners” – Scott Goldthwaite, President,
Aliaswire, Inc.
About Mastercard
Mastercard (NYSE: MA), www.mastercard.com, is a technology
company in the global payments industry. Our global payments
processing network connects consumers, financial institutions,
merchants, governments and businesses in more than 210 countries
and territories. Mastercard products and solutions make everyday
commerce activities – such as shopping, traveling, running a
business and managing finances – easier, more secure and more
efficient for everyone. Follow us on Twitter @MastercardNews, join
the discussion on the Beyond the Transaction Blog and subscribe for
the latest news on the Engagement Bureau.
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Mastercard Communications Chaiti Sen Email:
chaiti.sen@mastercard.com Tel: 914.263.6542
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