Financial institutions using Fiserv Inc.'s CheckFree RXP online bill pay service will soon be offering integrated same-day payments to more than 100 national and regional companies through MoneyGram International.
The service, which will use MoneyGram's direct connections with billing companies, could be expanded to include more than 1,000 additional billers based on consumer demand, the companies said.
Major auto, mortgage, credit card, utility and mobile phone providers will be among the initial participants in same-day payment coverage when the service becomes available later this year to the more than 3,100 financial institutions that use CheckFree RXP, Fiserv said.
"Other same-day payment offerings currently in the market have suffered from low adoption due to a small number of available bills and a lack of integration into the existing online payment process," said Todd Lesher, division president of electronic banking services for Fiserv.
"Financial institutions can now address these issues by taking advantage of the combined Fiserv and MoneyGram networks to offer a substantial number of bills through a same-day payment option that is built into the online payment flow. Consumers will be able to select same-day delivery as part of the normal payment scheduling process, ensuring an uninterrupted user experience at the financial institution website."
--mrapport@cutimes.com
