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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Webinar: New Solutions Disrupt the Bill Pay Market

Even though paying bills is a common part of nearly every consumer’s life, it remains complex and inefficient for the entire bill pay ecosystem, including consumers, financial institutions and the billers themselves, making it an area ripe for innovation. This webinar discusses the bill pay landscape and how the Mastercard Bill Pay Exchange will benefit the bill pay ecosystem with an online bank bill pay solution created for today’s digital economy.

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