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November 18, 2022
On the web
US Subscription Fatigue is Real, With Consumers Managing an Average of 5 Accounts
The Drum
Far from happy at the wealth of choice, 72% of US consumers say there are ‘too many’ subscription services, with the average subscriber now shelling out for five different subscriptions every month.
Conducted by mobile payments platform Bango, the survey of 2,500 Americans found that 78% dream of a single app to manage the multiplying tendrils of their expanding digital footprint, delivering a one-stop-shop for TV, music, gaming and fitness.
The shifting sands of consumer sentiment has already seen Disney+ and Netflix roll out ad-supported tiers at a lower cost, but they may be barking up the wrong tree according to Bango. So coveted was such a mythical ‘super bundle’ that 63% said they would pay more to avoid micro-managing every service.
March 9, 2022
On the web
Targeting Growth Markets, PayNearMe Scores Walgreens for Its Merchant Network
Digital Transactions
“Bill-payment platform provider PayNearMe Inc. will dramatically expand its merchant network with the addition of Walgreens Co. in an agreement announced Wednesday. The pharmacy chain adds nearly 9,000 Walgreens and Duane Reade locations to PayNearMe’s merchant network, bringing the company’s total to more than 40,000 retail locations. PayNearMe’s platform lets unbanked consumers pay bills at merchant locations ideally situated near their homes.”
February 17, 2022
On the wires
Corpay One Launches Corpay Mastercard®, The Smart Card That Helps Pay Your Bills
“Corpay One, a smart digital bill pay platform for small businesses, today announced the availability of Corpay Mastercard® , its new credit card product for qualified customers. Corpay Mastercard® is fully integrated with the Corpay One bill pay platform, providing small businesses with one, subscription-free solution to make payments and manage spend.”
February 16, 2022
On the web
As Users Seek More Choices, PayNearMe Adds PayPal And Venmo To Its Bill Pay Platform
Digital Transactions
“Responding to demand from consumers and billers for digital bill-payment options, electronic billing and payment platform provider PayNearMe Inc. on Tuesday announced the addition of PayPal and Venmo to its payment options. A recent study by PayNearMe revealed that 43% of respondents rated the convenience of using PayPal to pay bills as important or very important. In addition, more than 27% of consumers cited Venmo as a preferred way to pay their bills, and 35% of Gen Zers and Millennials wanted the option of using Venmo to pay their bills.”
December 15, 2021
On the wires
Paysafe Partners With OSG to Enable Cash Payments for Online Billing
“Paysafe (NYSE: PSFE), a leading specialized payments platform, today announced a partnership with Output Services Group (OSG) , a global provider of customer engagement and payment solutions. OSG, which provides online billing and payment solutions to many industries serving U.S. consumers, will now offer the Paysafecash ™ online cash solution as an alternative payment method to their platform, further promoting financial inclusion for unbanked and cash-focused consumers to pay their bills online.”
Papaya Announces Series B to Expand Mobile Payment App Using First-Of-Its-Kind Bill Understanding Technology
“Papaya lets users take a photo of any bill – ranging from parking tickets, to utilities and phone bills, to medical invoices – and the company instantly takes care of the rest, able to reach every single business in the United States that issues bills. Papaya has built a one-of-a-kind, artificial intelligence-powered “bill understanding technology” which can understand an invoice in the very same way that humans do.”
ACI Worldwide and KyckGlobal Expand Digital Disbursements for Billing Organizations
“ACI Worldwide (NASDAQ: ACIW), a leading global provider of real-time digital payment software , today announced a partnership with KyckGlobal , a digital payments firm, to enhance digital disbursements for biller organizations across the United States, providing an array of options including international and cash payments.”
December 7, 2021
On the web
Visa to Pilot Request to Pay Bill Management Platform in UK
Finextra Research
“Visa is to use its request to pay platform to pilot a consolidated bill payment and subscription management service for UK consumers. Visa is working with partners, including digital billing specialist Revive Management and homelessness charity Crisis to launch the service, which will provide consumers with a single platform from which to alter payment dates, split bills with others, separate payments into smaller sums, forward bills to someone else or communicate directly with the biller.”
November 17, 2021
On the web
Aiia Collaborates With Netcompany on Open Banking Payments
Finextra Research
“European open banking leader Aiia enters collaboration with one of the most successful software technology companies in the Nordics, Netcompany. N Netcompany is launching ‘mit.dk’, a new platform to streamline digital communication between the Danish people and public and private sector companies. The platform is set to bring open banking powered payments to the masses by enabling Danish citizens to pay bills and invoices securely and safely in one place.”
November 8, 2021
On the wires
U.S. Bank Brings the Power of Request for Payment (RfP) to Billers
“U.S. Bank has expanded its Request for Payment (RfP) services to help billers provide a better bill payment experience to customers. With RfP capabilities added to U.S. Bank eBill Service – a leading digital solution for accounts receivables teams – U.S. Bank commercial clients will now have access to a fully integrated bill delivery and payment platform with the RfP capabilities.”
October 27, 2021
On the wires
Walmart Offers More Convenience to Millions of Customers Nationwide by Expanding In-Store Bill Payment and Cash Loading Services With InComm Payments
“Walmart and InComm Payments , a leading payments technology company, today announced a more convenient and efficient way for millions of customers to pay their bills or fund prepaid accounts nationwide at more than 4,700 Walmart locations in the U.S. through VanillaDirect ™.”
October 6, 2021
On the wires
Sila and Arcus Partner to Unlock Bill Payment Solutions To 18K+ Billers In The U.S.
“Sila Inc., a fintech software platform that provides payment infrastructure as a service, today announced a partnership with Arcus, a payment-as-a-service platform that enables any business to launch and offer innovative payment solutions across the Americas. By combining both companies’ particular strengths, bill payment to more than 18,000 US billers is now available to their customers. Arcus allows its customers to process bill pay through bill pay APIs to consumer and business accounts. Sila provides an API platform that allows clients to verify identities, link bank accounts, and originate ACH debit and credit transactions. Sila’s API platform also includes functionality for digital wallets. Customers can store value and transfer money from bank accounts to white-label digital wallets representing deposited funds.”
September 15, 2021
Top Post
BNY Mellon, Citi and Verizon Launch Real-Time Bill Pay for Retail Customers in Market First
“BNY Mellon and Citi have collaborated with Verizon to be the first company to send request-for-payment messages to consumers who bank with Citi. When using BNY Mellon’s new Real-Time E-Bills and Payments functionality, Verizon customers with Citibank accounts can pay their bills immediately, at any time of day, 365 days a year, and enjoy greater control over their finances to help avoid overdraft fees.”
August 26, 2021
On the wires
InComm Payments Partners With Doxo, Enabling Consumers to Pay Bills With Cash on Doxo’s Nationwide Bill Pay Network at More Than 60,000 Retail Locations
“InComm Payments , a leading payments technology company, and doxo , the largest bill pay directory in the nation, today announced an exciting new partnership that will enable doxo users to pay household bills with cash at more than 60,000 retail locations throughout the U.S. According to the Federal Reserve Bank of Atlanta , a little more than 12% of bills, equating to nearly 1.9 billion of the 15.5 billion bills paid by US households each year , are paid using cash. Paying with cash is still a critical need for many consumers who regularly receive cash income or who don’t have bank accounts and need to cover household obligations.”
August 16, 2021
On the wires
ACI Worldwide and PayPal Deliver Digital Wallet Options for Bill Payments
“ACI Worldwide (NASDAQ: ACIW), a leading global provider of real-time digital payment software and solutions , today announced a collaboration with PayPal to bring digital wallet payment options to ACI’s biller clients like Monroe County Water Authority (MCWA). PayPal and Venmo will be integrated with ACI Speedpay , giving consumers more options to make bill payments conveniently and securely using the digital methods that suit them best.”
June 24, 2021
On the wires
Consumers’ Use of Mobile Wallets Up Nearly 50 Percent Among Those Paying Bills Digitally More Often During Pandemic, New ACI Speedpay Pulse Study Reveals
“According to new data from ACI Worldwide (NASDAQ: ACIW), a leading global provider of real-time electronic payment and banking solutions , the use of mobile wallets has increased nearly 50 percent (49%) from 2020 to 2021 among those using digital payments more frequently to pay bills than they did before the pandemic (21.4%). This is a sharp rise compared to increases in other digital payment methods, including a biller’s website (11%) and a biller’s mobile app (6%).”
June 8, 2021
On the wires
PayNearMe Enables Millions of Walmart® Shoppers to Pay Their Bills Through Green Dot Network at the Walmart MoneyCenter
“PayNearMe , the modern and reliable payments platform known for making payments easy for both businesses and customers, announced that effective August 2021 PayNearMe customers will be able to complete bill payment transactions at participating Walmart locations. By expanding its partnership with Green Dot (NYSE: GDOT), a financial technology company committed to seamlessly connecting people to their money, PayNearMe can enable consumers to access Green Dot’s more than 90,000 retail locations nationwide. To pay bills at participating Walmart stores, customers simply show an associate at the Money Services desk or Customer Service desk the scannable code on their smartphone, pay with cash and collect a receipt that confirms the payment is completed. Funds are then transferred to the biller electronically through a single consolidated settlement.”
June 7, 2021
On the web
Can Real-time Bill Pay Bring More Consumers to Bank Sites?
American Banker
“When Fiserv paid $4.4 billion to acquire CheckFree in 2007, ACH-based bill payment through banks’ web portals was expanding, with 21 of the top 25 banks in the U.S. using CheckFree’s services. It happened to be the same year Apple introduced the iPhone, which would gradually undermine bank-based bill payments by enabling consumers to pay bills directly through mobile apps using all types of payments, including cards. Fewer than 25% of consumers now pay bills through their banks’ websites, down from about 40% more than a decade ago, and the pandemic has only accelerated that shift as more consumers got help simplifying bill payments through third-party providers and fintechs, according to data from Aite Group.”
June 2, 2021
On the wires
Clik2pay Early Mover With Seamless Bill Payment Service Using Interac E-Transfer®
“Clik2pay, Canada’s first seamless, near-real-time bill payments service launched today at the Payments Canada SUMMIT , together on stage with some of Canada’s leading companies . Leveraging the trusted Interac e-Transfer service and offered through Peoples Trust Company , part of People’s Group, the innovative service lets customers easily pay bills and invoices from their bank account by text, e-mail or QR code. Clik2pay provides an alternative to expensive options like credit card and cheque, and legacy systems such as the existing bill pay network and pre-authorized debits.”
May 26, 2021
On the wires
Doxo Launches Free Bill Pay to 100,000 Billers Coast to Coast
“doxo , the innovative, all-in-one web and mobile bill pay service, today announced that it has expanded the benefits of its simple, secure bill pay experience by introducing free bill payments to more than 100,000 billers across the U.S. from a linked account to any of more than 11,000 bank and credit unions . The doxo app provides users a secure, consistent way to organize and pay all their bills with a single login, on any device, using any payment method they need—bank account, credit card, debit card, or Apple Pay . Now, when consumers link their bank account to their doxo account, they can not only manage due dates and track their real time bank balance, but they can eliminate the online transaction fees often encountered when paying certain types of bills.”
BNY Mellon’s New Solution Leads the Digital Bill-Pay Revolution
“BNY Mellon today announced that it has launched a first-of-its-kind real-time electronic bill (e-bill) and payment solution. Displacing the inefficient and antiquated process historically used to handle the majority of the 15 billion bills paid in the U.S. annually, this pioneering capability enables U.S. businesses to present digital bills to their consumer clients in real-time and receive instant payment via the consumers’ preferred online and mobile banking channels. This transformational solution promises significant change by delivering ubiquitous 24/7/365 digital capabilities that will improve their end-to-end payment interactions. Businesses can leverage real-time integrated messaging through application programming interfaces (APIs) to provide instant, end-to-end straight through processing from bill-presentment to payment to reconciliation. Banks can also leverage this solution for their own clients via BNY Mellon’s white-label offering. These e-bills will be sent over the RTP® network operated by The Clearing House.”
May 17, 2021
On the web
Electronic Billing Startup Paymentus Targets Over $2 Bln Valuation in U.S. IPO
Reuters
“Billing and payments network Paymentus Holdings Inc said on Monday it was aiming for a valuation of up to $2.43 billion in its initial public offering in the United States…The company’s revenue rose 32% to $92.2 million in the three months ended March 31, its filing showed, buoyed by increased adoption of online payment.”
May 6, 2021
On the wires
CEOs Support Intelligent Bill Pay Capability on the RTP® Network
“We are making the investments needed to deliver a new bill-pay experience in our customer mobile and online channels. Billers will be able to present a bill securely through a bank’s digital channel using a RfP (Request for Payment) message over the RTP network. Customers will review the bill, pay immediately, or schedule the payment for a future date. For billers this represents an opportunity to reimagine their customers’ payment experience, providing added convenience, while delivering meaningful processing efficiencies. Later this year, 40% of digitally enabled U.S. consumer accounts are expected to support this new customer experience. Core technology and bill pay providers are also introducing this capability and will make it available to their bank and credit union clients.”
April 22, 2021
On the wires
Plastiq and Billfire Partner to Enable Businesses to Offer More Payment Options to Their Customers
“Plastiq , the payment platform that enables businesses to better manage payments and cash flow, and Billfire , a leading provider of intelligent A/R automation solutions that streamline the invoice-to-cash process, partner to help suppliers and distributors get paid faster and more flexibly by allowing them to accept payments via credit card without any merchant fees. This new integration between the two companies delivers an improved, seamless experience for Billfire customers.”
April 8, 2021
On the wires
Mastercard Is First to Launch Request to Pay Application Solution in UK
“Mastercard is today announcing the launch of its innovative Request to Pay application solution; the first in the UK to offer an end user application service within Pay.UK’s Request to Pay framework. Accredited as both an application and repository service provider, Mastercard’s Request to Pay solution now builds and enrols end user applications, such as a mobile app for consumers or a corporate IT system. These are necessary to create, send, view, and respond to ‘Requests to Pay’ for billers and payers, while also building in message repositories – the secure message storing and routing component.”
March 1, 2021
On the wires
Paysafe Partners With RentMoola to Enable US Renters to Pay Rent Online With Cash
“Paysafe, a leading integrated payments platform, today announced its expanded partnership with RentMoola, the North American online rent payment platform. Building on its long-standing payment processing partnership with Paysafe, RentMoola has now added the company’s Paysafecash™ eCash alternative payment method to better serve U.S. tenants whose payment preference is cash.”
ACI Worldwide and InComm Payments Partner to Digitize Cash Payments, Driving Financial Inclusion Amid the Pandemic
“ACI Worldwide (NASDAQ: ACIW), a leading global provider of real-time digital payment software and solutions , and InComm Payments , a leading global payments technology company, today announced a partnership that will digitize cash payments through the use of a barcode payment token, making it easier for consumers to pay bills. For some consumers, such as the unbanked or underbanked populations, cash payments are essential. With ACI Speedpay and InComm Payments’ VanillaDirect Pay, consumers will follow the account provider’s process to get a barcode printed, scanned from a website, or sent to their phone via text or through ACI’s moBills digital wallet feature.”
February 9, 2021
On the web
Symend Nabs $43M for a Platform to Help Customers Avoid Defaulting on Bills
TechCrunch
“Symend , which builds behavioral analytics that integrate with customer engagement products to help identify customers having trouble paying bills and suggests payment alternatives to keep them from defaulting altogether, has picked up $43 million in funding.”
January 28, 2021
On the web
Electronic Receipts: Safaricom Launches M-Pesa Bill Manager for Businesses
The Star
“Safaricom has announced the launch of an M-Pesa Bill Management service. The innovation targets schools, landlords, utilities and other businesses with repeat payments, offering a platform where they can present and receive pending payments from customers, and issue electronic receipts.”
December 11, 2020
On the web
Startup Xspaced Teams With Dwolla to Ease Rent Burdens for Tenants Pressed by Covid-19
Digital Transactions
“Among the hardships some consumers are bearing these days, rent payments can loom large. This week, a housing-payments startup called Xspaced and payments provider Dwolla Inc. launched a feature that allows tenants to split rent payments into anywhere from two to four installments each month without accruing interest. Landlords still get paid monthly with the new feature, which Oakland, Calif.-based Xspaced likens to a “ subscription plan.””
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