Mastercard Bill Pay Exchange allows people to view, manage and pay household and other personal bills within their financial service provider’s mobile app.
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Improve customer loyalty
Capture bill payment flows
Reduce customer queries and complaints
Consumers benefit from improved speed, transparency and control in bill payments. It helps to reduce their risk of late and erroneous payments, improve household budgeting and remove friction in the bill pay experience. Because funds are settled in real-time, they receive instant credit on their bill account.
Billers benefit from faster receipt of payments with no risk of non-sufficient funds or chargebacks and lower costs by eliminating those associated with mailing paper bills and processing cheques and managing customer queries and complaints. It also enables automatic reconciliation by linking remittance and payment data.