MasterCard and iPay have expanded their
electronic bill processing agreement.
The agreement will allow iPay’s biller
connections to be available to bill payment originators that use
MasterCard RRPS e-bill processing services. This service will allow
the use of cheques to be eliminated and replaced by e-billing
solutions.
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Gidget Hall,
senior vice president and group head of Bill Payment and RPPS at MasterCard Worldwide
said:
“Today, more than 40 million households pay
bills via online and mobile banking. Yet for many local and
regional billers, a high percentage of those payments arrive in the
form of costly and inefficient cheques.”
MasterCard and iPay said they aim to expand
the use of e-payments and improve efficiency for the companies
using their solutions.
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