Fidelity National Information Services, or FIS, a provider of processing and technology services for financial institutions, has teamed with Western Union which provides money transfer services and Yodlee a provider of online financial applications, to expand the value and capabilities of online bill pay for FIS customers and other financial institutions worldwide.
Through this relationship, FIS will integrate Yodlee PayToday, a bill payment service, into the FIS online bill payment system, providing flexible online payment options and delivering electronic billing and payment services directly to customers’ computers, said Yodlee.
With the integration, FIS bill pay customers of any size will be able to take advantage of the unique revenue-generating capabilities offered by Yodlee payments and begin to generate new fee-based revenue by offering customers the convenience of guaranteed, same-day electronic payments, added Yodlee. Through its relationship with Western Union, PayToday customers have access to a large same-day electronic payments network, noted Yodlee.
Anthony Jabbour, executive vice president for core processing and e-banking at FIS, said: The capabilities Yodlee and Western Union bring to this same-day payment solution will help us increase our penetration into the online bill payment market, as well as deliver substantive new value for our existing customers.
