Fast. Flawless. Electronic every time. Online Bill Payments the Way They Should Be

Transcription

1 Fast. Flawless. Electronic every time. Online Bill the Way They Should Be

2 A single connection. A trusted, world-class infrastructure. Unsurpassed performance, 24/7/365. If you re not connected to MasterCard RPPS, you re not receiving all the electronic payments you could be. As a central hub for online banking and third-party payments, we process tens of millions of electronic payments worth billions of dollars every month.

3 A sizable opportunity to be more profitable. Every moment of every day, someone in the U.S. is clicking Send to pay a bill. In recent years, online bill payment has exploded as people realize its advantages. Today, 32 million U.S. households pay bills online at their bank s website. 1 It s more than convenient it also enables more timely payment posting. For organizations like yours, the speed, efficiency, and simplicity of online bill payment yields substantial savings and happier, more loyal customers. At the same time, this extraordinary growth sometimes comes at a high price. All electronic payments are not alike. Even when your customers pay their bill to you online through their bank or credit union, it may ultimately reach you as a paper check. Then there are unpostable payments bill payments that can t be credited to the correct customer accounts which can cost you, your customers, and processors over a half a billion dollars each year. 2 And the attrition rate for consumers who experience the hassle of unpostable payments is as much as triple that of other customers. 2 In 2004, 28 million U.S. households paid bills online at their bank s website. By 2007, that number has jumped to an estimated 32 million households. The forecast for 2012: 42 million. 1 42M Knowing what you and your customers stand to gain through online bill payment, the challenge is twofold: how to make it more attractive to people who have yet to adopt it, and how to make it more reliable for those who already use it. 28M 32M Greet the challenge well equipped. MasterCard RPPS is here to help you benefit fully from the online bill-payment service banks provide to the customers they have in common with you. You can start by tapping into our single-connection network, which delivers access to virtually every online bill-payment service, both financial institutions and third-party providers. From there, we ll help you maximize your current electronic bill-payment posting capacity. If you don t already receive payments electronically, we ll help you transform tedious, costly, paper-based receivables into a model of efficiency Online Banking and Bill Payment, Javelin Strategy and Research, June TowerGroup, September 2006

4 Making electronic payments happen is at the heart of what we do. While some services can deliver bill payments electronically from consumers directly to billers like you, MasterCard RPPS has a uniquely central role in the industry tens of millions of electronic bill payments are processed every month through the MasterCard RPPS network. We do it cleanly and quickly, minimizing unpostables that can cost billers money. Here s how. Quality data ensures a high success rate. Our self-healing network prevents errors whenever possible, with unique services that can repair unpostable data when it occurs. It s all part of improving the quality of the transaction and its ability to be electronically processed rather than being rejected. That means your customers bills get through quickly and reliably one more reason for them to like doing business with you. Multiple daily cycles speed payments through the system. We can help you receive data and funds faster, because transactions move quickly through our system five times every day dramatically improving days sales outstanding. And with multiple daily processing cycles and guaranteed funds settlement, your customers payments are posted the same day they re received. You can count on MasterCard RPPS to deliver your customers online bill payments to you flawlessly. The speed and accuracy of our automated payment processing can also make your back office more efficient by eliminating the need to manage multiple payment originator relationships whether directly or through your lockbox service provider. That means fewer customer inquiries and the costs that come with them. A dependable funds environment protects you from risk. All of the funds are secured from the origination point before a transaction is sent to you. It eliminates the risk of returned items due to insufficient funds. That s something you don t get from standard online payments. Ultra connectivity links you to virtually every player. MasterCard RPPS offers a single, reliable connection to virtually every electronic-payments provider in the country home banking, walk-in payments, credit counseling agencies, bill-payment web portals. In fact, we re connected to more billers, payment receivers, and lockbox service providers than anyone. We can connect to your payments processor or directly to you, if you manage your own accounts payable system. Multiple Connections Single Connection Originators Originators Home Banking Home Banking Lockbox Service Providers/ Payment Receivers BILLER A Walk-In BILLER B Walk-In BILLER A Credit Counseling BILLER C Credit Counseling BILLER B Web Portals Web Portals BILLER C When all of your electronic bill payments come through a single connection, you can avoid the inefficiencies that come from dealing with a costly tangle of multiple data connections and funds settlement files.

5 The right tools to keep pace with a fast-changing environment. MasterCard RPPS understands competing successfully takes more than fast, accurate, reliable payment capability (as important as it is). You also need tools that keep pace with the fast-evolving IT environment, a clear understanding of industry developments, and effective strategies for a competitive marketplace. From ongoing product enhancements to public advocacy, from consumer awareness programs to business-building marketing initiatives, from sales support to proactive account management, MasterCard RPPS is more than a transaction processor. We add value every step of the way. MasterCard RPPS continues to bring new innovations to market that help to optimize the electronic bill-payment experience from end to end. Here are just a few examples: > Account Conversion Technology Matching old account numbers to new account numbers due to mergers, acquisitions, and other events involving account changes can create headaches, especially when consumers and bill-payment service providers continue to send payments with old account numbers. This service helps quickly resolve payment routing and posting issues inherent in account number conversions and helps you accurately process more payments. > Electronic Exceptions Service When payments fail to process electronically and have to be substituted with a paper check, they re considered exception payments. One typical cause for exception payments is mismatched account numbers. This utility enables billers to receive exception payments electronically and avoid the expense of handling paper checks for faster posting and receipt of funds. > Same Day Service Offer your customers added convenience and peace of mind by enabling them to pay a bill online knowing it will be posted the same business day. This service can also save customer service expenses because it reduces the need for call center support involving same-day payments by phone. Find out more and ask for MasterCard RPPS. Online bill payment can offer major payback for organizations in time savings and customer satisfaction. MasterCard RPPS is ready to help you get there. And we re the right choice for processing the electronic bill payments you receive every day, whether you handle them yourself or engage a bank lockbox or payments processor. Check with your processor to make sure they use MasterCard RPPS. If they don t, ask them to start. Or give us a call to explore direct options. MasterCard RPPS makes it easier for you to stick to business. If you process your organization s online bill payments yourself, you ll be glad to know that we offer a whole range of tools designed to make the job simpler. Those include: MasterCard RPPS Academy, for training purposes; the MasterCard RPPS Center, where you can quickly conduct research on bill payments; and the MasterCard RPPS Biller Directory, which makes it easier for your customers bank or bill-payment service provider to find you and is easily updated to keep you current and accessible. For more information, visit rpps_sales@mastercard.com, or call

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