Mastercard has announced the signing of an agreement with global business integration technology specialist SEEBURGER, to provide people and businesses across Europe more choice and flexibility.
The collaboration will unite Mastercard’s request to pay-based technology with SEEBURGER’s Business Integration Suite, providing businesses the chance to transform their billing and collection process for end customers.
With Bill Payments the initial focus, the collective aim will be to create significant value by: digitising the billing presentment process; digitising customer communications; presenting consumer offers; and enabling accelerated cash flows through better visibility of payment statuses.
Furthermore, 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.
Roberto Tittarelli, Executive Vice President New Payment Platforms at Mastercard, commented: “By partnering with SEEBURGER, who bring leading business payment integration technology, we can transform the bill payment experience for consumers and billers across Europe.
“The combination of request to pay technology and real time payments, will enable an alternative to direct debit and biller-direct models, providing more optionality for different customer segments, reducing time, inconvenience and risk of inaccuracy for payers and billers alike.”
Enhanced Bill Payment services also offer financial institutions increased mobile application engagement by their customers and additional revenue opportunities.
Ulf Persson, SVP Global Business Development for SEEBURGER, added: “For both consumers and billers, the payment process can be frustrating, time-consuming and costly. We are pleased to be working alongside Mastercard to help streamline and improve the process.
“Our ability to integrate virtually anything aligns well with Mastercard’s initiative to create a better payment experience for customers.”