Jack Henry & Associates Inc. said an expanded processing relationship with MasterCard Worldwide will help reduce the number of paper checks its iPay Technologies division generates each month to pay consumers’ bills.
The Monett, Mo., financial services technology provider said it is making iPay’s biller connections available to bill payment originators who use MasterCard’s RPPS bill pay network.
That will enable more than 1,500 local and regional billers – including utilities, lenders, telecommunications operators and municipalities – to receive payments electronically instead of paper checks, the companies said.
"If a consumer's bill payment provider cannot deliver payments electronically to local and regional billers, the paper check alternative causes delays in delivery and posting as well as an added expense, all of which negatively impact both the consumer and biller,” said Greg Adelson, group president of iPay Technologies.
He said “teaming with MasterCard RPPS allows more consumers to have access to iPay's vast array of biller relationships, thereby enabling both organizations to capitalize on opportunities for extending the scope of electronic payments and their inherent benefits."
Jack Henry bought the Elizabethtown, Ky., iPay Technologies operation last year.