The parties will bring together Mastercard’s request-to-pay-based technology with Seeburger’s Business Integration Suite, enabling businesses to transform their billing and collection process for end customers. The agreement includes a six-month pilot project to test and ready the solution for the market across Europe.
With bill payments the initial focus, the collective aim will be to create significant value by digitizing the billing presentment process and customer communications; presenting consumer offers; and enabling accelerated cashflows through better visibility of payment statuses. The working partnership will also look to enhance auto reconciliation and drive efficiencies for billers by offering a digital platform for communicating directly with their customers to manage enquiries or disputes.
Enhanced bill payment services also offer financial institutions increased mobile application engagement by their customers and additional revenue opportunities.