Latin American card users are being encouraged to switch to
electronic bill payments following improvements to MasterCard’s
worldwide network.
MasterCard plans to introduce ATM Bill
Payments which enables cardholders to use their credit or debit
cards to pay household bills at participating domestic ATMs in
Argentina and Uruguay. The availability of installment payment
cards is also set to be extended in the countries.
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“These network-based solutions are designed to
provide financial institutions and merchant partners with
locally-customized opportunities to realize operational
efficiencies, reduce fraud-related costs, develop differentiated
products and tap into new revenue streams that enhance their
profitability and improve their cardholders’ payment experiences,”
said Rob Reeg, president, MasterCard Global Technology and
Operations.
MasterCard claims that the enhancements will
offer financial-institution customers and merchant partners
opportunities to improve the shopping experience for cardholders,
identify new business opportunities, and improve operational
efficiencies.
Other regional enhancements are to be
introduced in North America, Europe and Asia. In the United States
they include rewards benefits and improved security and in
Europe there are improvements to private label card loading. In
Asia, Singaporean card holders will be able to pay bills at ATMs,
similarly to in Argentina and Uruguay.
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By GlobalData
