Mastercard® Bill Pay Exchange

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A better bill pay experience for banks, billers and consumers

Whether paying bills online or by check, consumer expectations are not being met, nor are the needs of billers and banks, with current bill pay solutions proving to be inconsistent and costly. The time is right for innovation that benefits everyone in the bill pay ecosystem. The Mastercard Bill Pay Exchange provides a transformative, mobile-first solution, adding the power of real-time capabilities to Mastercard’s industry-leading biller network.

Introducing the Mastercard Bill Pay Exchange 

Building from an industry-leading network with over 135,000 billers, the Bill Pay Exchange will help bring transparency, consistency and simplicity to consumer bill pay.

Biller Setup

Will enable simplified biller setup for consumers, such as biller recommendations based on a consumer’s profile

 

Bill Presentment

Will enable consumers to use their mobile banking app to easily see full bill details and manage multiple bills in one place

 

Payment Choice

Will provide consumers choice of payments – bank account payments (ACH and real-time payments) and cards

 

Payment Transparency

Will enable real-time payment confirmation and automated reconciliation for the biller

 

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Disrupting the Bill Pay Market

Bill pay transactions make up 30% of consumer spending, with the total estimated at more than $4 trillion annually in the United States. This makes paying bills central to consumers’ financial lives. Despite its importance, making an electronic bill payment can be a complicated exercise for a consumer. The segment is ready for change.

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Podcast: “The Future of Bill Pay”

Is bank bill pay ready for an upgrade? Today, as few as 27% of consumers pay bills online through their bank – down from 40% in 2010. But why? Ron Shultz, SVP, Global Bill Pay at Mastercard, answers this and shares his vision of “The Future of Bill Pay” in this enlightening podcast.

Listen now

Connect with us to learn more or request a demo