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February 6, 2019

Majesco unveils new online billing and payments app

Insurance software provider Majesco has launched a new online billing and payments app with built-in CyberSource payment platform from Visa.

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The new app, dubbed Electronic Billing & Payments (EBP), is powered by cloud-based Majesco Digital1st Platform.

The app facilitates self-registration, guest payment, management of various policies, one-time or recurring payments, credit card as well as ACH.

Besides, it enables users to view invoices and payment history through the desktop or mobile device.

The aim is to ease the billing and payment process of insurers for their agents and customers.

In announcing the launch, Majesco cited an internal research that found 55-70% of customers across all generations preferring digital and mobile bill payment.

Majesco EVP of product Manish Shah said: “We are extremely excited to offer this innovative Electronic Billing & Payments app, built on the cloud-native Majesco Digital1st Platform and with an option of using the CyberSource platform to securely and conveniently accept credit card and ACH payments.

“EBP is a cloud-native SaaS offering which can be quickly white-labelled consistent with insurer’s corporate branding and rolled out into production in as little as two weeks with robust operational SLA, security and compliance without any licensing costs.”

Visa senior director of business development Dominic Brown added: “Being pre-integrated and officially part of the EcoExchange allows our mutual insurance clients to more easily implement our solutions and get up and running quickly, which often translates to quick savings and speed to revenue for our clients.”

Free Report
img

What does the future hold for BNPL market?

The global Buy Now Pay Later (BNPL) market is estimated at a massive $120 million in 2021 – representing just less than 3% of the global ecommerce market. Yet the user-base is massive, with leading provider, Klarna, alone reportedly having 87 million users in 2021. This market is only expected to grow, with established companies like Apple and Goldman Sachs moving into the BNPL sector in bids to capitalize on this trend. To help you make the most of this growing market, GlobalData’s Buy Now Pay Later in 2022 and Beyond report provides detailed insight into the BNPL sector. This report:
  • Discusses the disruptive potential of the BNPL sector on the payments industry
  • Identifies the leading companies that are driving sector growth and the benefits this new payments solution provides to both merchants and consumers
  • Analyzes the consumer’s risk of using BNPL loans and government attempts at introducing regulations to the sector
  • Uncovers the main risks that consumers expose themselves to when borrowing with BNPL
Download this free report to get to know where this developing market is headed, and how you can reshape your strategies.
by GlobalData
Enter your details here to receive your free Report.

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