Paymentus to Provide Bill Pay and Money Movement for Citizens Retail Banking Customers
February 15 2023 - 8:30AM
Business Wire
Paymentus (NYSE: PAY), the best in class digital bill pay1 and
money movement provider, today announced that it has been selected
by Citizens Financial Group to provide electronic bill payment and
money services for its digital-first retail banking customers
nationwide. Citizens will deploy Paymentus Bill CenterSM and
Paymentus Loan Payments, both powered by the Paymentus Instant
Payment Network® (IPN), the industry's first and only unified,
real-time digital bill presentment, payment and money movement
system.
Paymentus Bill Center provides customers with a 360-degree view
across all bills and financial obligations, greater payment choice
with debit and credit card payment options, and the ability to
receive immediate payment confirmation from the biller.
Paymentus Loan Payments will further expand the comprehensive
banking experience for Citizens’ customers, by enabling loan
payments through the industry’s leading biller direct electronic
bill presentment and payment (EBPP) platform. Paymentus’ solution
enables customers to make loan payments using checking/savings,
debit card and digital wallets in web, mobile, SMS, IVR,
CSR-assisted, chat, and IPN channels.
“Citizens’ recent growth has been fueled by our development of
new and innovative solutions to help customers manage their
finances in an increasingly fast-paced, digital-first world,” said
Beth Johnson, Chief Experience Officer at Citizens. “Customer
expectations around payments are rapidly increasing, so integrating
real time payments and expanding money movement capabilities within
our digital banking platform will help make Citizens the bank of
choice for the modern retail bank customer.”
The rise of real-time payments and increasing preference for new
and non-traditional payment types such as digital wallets has
created greater demands for speed, convenience and optionality. 89%
of consumers want more real-time payment options from their digital
banking experience2, while eight out of 10 consumers want the
option of paying bills by credit or debit card3. Citizens can now
meet these expectations and deliver a superior experience for its
entire customer base.
“The Instant Payment Network and our Bill Center and Loan
Payment solutions align the interest of banks and billers, all to
better serve the end consumer,” said Dushyant Sharma, Founder and
CEO of Paymentus. “Consumers expect to operate in real-time, and
value holistic and optimized omnichannel experiences that enable
them to efficiently and effectively manage their time, resources,
and money. Forward thinking partners like Citizens recognize that
providing seamless real-time money movement and bill pay
capabilities are essential components to a premier banking
experience.”
About Paymentus
Paymentus is a leading provider of cloud-based bill payment
technology and solutions for more than 1,700 billers and financial
institutions across North America. The company was named the
industry’s best-in-class provider of EBPP solutions by
Aite-Novarica in February 2022. The Paymentus omni-channel platform
provides consumers with easy-to-use, flexible, and secure
electronic bill payment experiences through their preferred payment
channel and type. Paymentus’ proprietary Instant Payment Network,
or IPN, connects IPN partners’ platforms and tens of thousands of
billers to Paymentus’ integrated billing, payment, and
reconciliation capabilities. For more information, please visit
www.paymentus.com.
CATEGORY: CORPORATE NEWS
1 Aite-Novarica, Aite Matrix: Biller Direct EBPP Solutions,
February 2022 2 U.S. Bank Bill Pay: It’s Time for Resuscitation,
AiteNovarica, November 17, 2021 3 CreditCards.com Payment Methods
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version on businesswire.com: https://www.businesswire.com/news/home/20230215005199/en/
Media: Tony Labriola media-relations@paymentus.com
Investors: Paul Seamon pseamon@paymentus.com
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