Bill Payment

Better Service And Efficiency
With Less Labor And Cost

Businesses like yours process high numbers of transactions frequently. Wouldn't you like to streamline that process and decrease labor output and non-payment risk while improving customer convenience and service? Of course you would. From utilities to property management to insurance to child care services, MasterCard acceptance can be valuable to improving your payment services and your customer satisfaction simultaneously.

Since 9 in 10 U.S. consumers carry at least one payment card for convenience and flexibility, or to earn benefits from special card programs, many service providers in the following industries now accept cards as an alternative to cash and checks for initial and recurring payments:

  • Cable/Satellite TV and Radio
  • Child Care
  • Home Cleaning
  • Home Security
  • Insurance
  • Landscaping
  • Magazines and Newspapers
  • Property Management
  • Telecommunications
  • Utilities

The benefits of card acceptance to service providers will vary according to current payment and/or collection needs, but usually include the following:

LABOR AND OPERATIONAL EFFICIENCY

MasterCard credit and debit card acceptance allows businesses to automate Internet, telephone, and self-service kiosk payments. Card transactions are often completed more quickly and efficiently than transactions that involve making change, filling out forms, or processing checks.

Automated transactions also save money by reducing customer traffic in field offices with high labor, real estate, and overhead costs. Payment by check or cash may also create additional expenses, such as armored car services, data entry costs, and bank deposit or lockbox fees.

IMPROVED CASH FLOW

Electronic payment methods can result in rapid deposit of funds into your account and improved cash flow. In addition, card payments made by telephone or in a face-to-face environment usually eliminate "mail float"-lost while checks are in the mail.

REDUCED RISK OF LOSSES FROM BAD CHECKS

Card transactions reduce the volume of checks returned for "nonsufficient funds," as well as associated fees, penalties, and collection costs. Card acceptance also cuts down on redeposit fees and the cost of processing additional transactions.

INCREASED CUSTOMER SATISFACTION

Consumers expect card acceptance by a wide range of service providers. Efficient electronic payments can help a service business to match the level of customer care provided by traditional face-to-face acceptors. And, in many cases, the benefits of acceptance can partially or fully offset card transaction costs.

FEATURES AND TOOLS FOR SERVICE BUSINESSES

Keep Card Account Data Current

If you maintain card-on-file data for your customers' automatic recurring bill payments, you face the challenge of card payments that decline due to account changes that have not been communicated to you—with each billing period. Declines compromise revenue flow and are inconvenient to customers as well. They also increase your direct and indirect expenses by forcing you to contact customers for either updated account information or alternate payment arrangements.

The MasterCard Automatic Billing Updater helps to ensure uninterrupted payments for you and uninterrupted service for your customers by seamlessly updating card-on-file account information. It helps to maintains and builds customer satisfaction.

Click here to learn more

Electronic Payment Processing Network:

MasterCard RPPS® provides a single connection for senders and receivers of electronic payments throughout the United States-including consumer service providers, billers, and lockbox service providers. Processing tens of millions of transactions reliably and securely every month, RPPS reaches virtually every electronic payments sender domestically that delivers online bill payment services. For more information, contact us.

Competitive Acquirer Bids:

Receive competitive bids from acquirers with MasterCard Request for Proposal (RFP) Guidelines.


THE ROLE OF MASTERCARD

Here's how we serve and serve our merchants, both directly and indirectly. In addition to managing the financial settlement and authorization systems, MasterCard administers the systems' operating rules and regulations, develops programs to open new merchant segments, and creates new payment programs and services. Of course, we also promote and advertise the MasterCard Brands.

FEATURED INFORMATION

MASTERCARD SERVICE INDUSTRIES INCENTIVE PROGRAM (SIIP)

SIIP offers a lower interchange rate on qualified recurring transactions for cable and telecommunications service companies.

MASTERCARD UTILITY INDUSTRY PROGRAM (UIP)

UIP provides utilities with an interchange rate on qualified one-time and recurring transactions.

MASTERCARD PROPERTY MANAGEMENT PROGRAM

Take advantage of a favorable interchange rate exclusively for your industry and
more.

RECURRING PAYMENTS

Automatic bill payment has become a leading method for paying recurring bills.

MASTERCARD RULES (PDF) Download the PDF THE MASTERCARD INTERCHANGE RATES AND CRITERIA (PDF) Download the PDF REQUEST FOR PROPOSAL GUIDELINES (PDF) Download the PDF ANATOMY OF A TRANSACTION (PDF) Download the PDF

ALSO OF INTEREST

START ACCEPTING MASTERCARD Learn More RECURRING PAYMENTS Learn More MASTERCARD SECURECODE™ Learn More ECOMMERCE SOLUTIONS Learn More