According to Fiserv, consumers who pay bills at the financial institutions that use the CheckFree RXP online payment service, will have access to the integrated same day payment option. Initially, bills from more than 100 national and regional companies will be available for same day payment, with the potential to add more than 1,000 additional bills based on consumer demand.
Fiserv will utilize MoneyGram’s direct connections with billing companies to deliver the payments.
The bills that will be available for same day payment represent those most common to US households, including auto, mortgage, credit card, utility and mobile phone bills.
The same-day expedited bill payment option is expected to be available to more than 3,100 financial institutions that use the CheckFree RXP online bill payment service in the second half of 2010.
Todd Lesher, division president, electronic banking services at Fiserv, said: “Other same day payment offerings currently in the market have suffered from low adoption due to a small number of available bills and a lack of integration into the existing online payment process.
“Financial institutions can now address these issues by taking advantage of the combined Fiserv and MoneyGram networks to offer a substantial number of bills through a same day payment option that is built into the online payment flow. Offering expedited payments for multiple bills at one website is another way financial institutions can enhance convenience and maintain their position at the center of consumers’ financial lives.”
