Fiserv Unveils New Bill Pay Feature

Fiserv has rolled out a white-label product that allows companies to bill and collect payments from customers via mobile, making it one of the latest firms in the credit union sector to announce major investments in bill pay technology.

The Brookfield, Wisc.-based financial services provider said its new Mobile Bill Presentment feature lets clients present bills digitally to customers inside their mobile wallets, where customers can then pay those bills via smartphone. The feature also lets billers send alerts, notifications and payment reminders to customers.

Companies can brand the product with their own logos and color schemes, according to Fiserv.

“People are using their mobile wallets to store and access boarding passes, concert tickets, store discounts and loyalty rewards, in addition to using them to pay at major retailers,” Fiserv SVP of Product Management and Strategy Rob Houser said. “With continued growth in all things digital, people expect information to be one tap away, and this includes access to their bills. Mobile Bill Presentment accommodates this growing expectation and lets companies put their customers’ bills where they want to pay them — on their smartphones.”

According to a November 2018 Fiserv consumer survey, paying a bill was the most common activity consumers undertook when visiting a biller’s website via a mobile platform. Credit card bills and mobile phone bills were the bill types consumers most often paid by smartphone, it noted.

Fiserv’s rollout of Mobile Bill Presentment follows similar moves by other companies in the credit union industry.

Last month, for example, Fort Wayne, Indiana-based Allied Payment Network, which provides mobile bill payment services to credit unions, unveiled bill pay technology that allows members to make real-time payments from their credit unions’ websites or mobile apps. Members can move money from their accounts directly to billers, and the technology provides instant confirmation that the bill is paid, according to the company.

Also, St. Petersburg, Fla.-based PSCU has invested heavily in cloud-based Lumin Digital, which operates a cloud-based platform that provides mobile and desktop bill pay. ACI Worldwide has also made significant investments in bill pay, such as the acquisition of Western Union’s Walletron business, which operates a network of billing and payment partners that manages more than 12 billion bills.

Wescom Resources Group, Jack Henry & Associates and Mastercard have also announced investments in bill pay.