Inlet, an electronic bills and statements distributor to financial institutions, has entered into a new partnership to roll out Mastercard Bill Pay Exchange solution.

The Mastercard Bill Pay Exchange is designed to allow users manage and pay variety of bills without having to set up different accounts. The solution supports multiple payment options through Mastercard’s biller network and partner banks’ ACH network connections.

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The addition of this digital solution will allow Inlet clients pay bills and receive payments in real time. They can also reach additional banks and access billing and payment channel.

Inlet CEO Christopher Johnson said: “Mastercard Bill Pay Exchange will deliver compelling new presentment and real-time payment messaging experiences to Inlet’s expanding biller network.

“Billers who select Inlet to enable Mastercard’s service will benefit from having a partner with expertise in data transformation, bill and invoice delivery, e-presentment and paper suppression.”

Mastercard senior vice-president of Product Management in North America Manal Toukan said: “Connecting to Bill Pay Exchange helps bill pay providers streamline account set-up, consolidate bill presentation, expand payment choices and provide real-time payment confirmation.

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“We are excited to continue to add new partners such as Inlet and provide a simple and seamless bill payment experience to consumers.”

Headquartered in New York City, Inlet distributes bills to around 6,500 financial institutions and other companies.

The company is formed as a joint venture of Broadridge Financial Solutions and Pitney Bowes.