Fiserv, Inc. (NASDAQ: FISV), a leading global provider of financial services technology solutions, announced today that U.S. Bank, the fifth largest bank in the United States, has selected Biller Advantage from Fiserv, which enables the bank’s business customers to provide electronic billing, presentment and payment (EBPP) options to their customers. Biller Advantage is a cost effective, easily configurable solution that brings comprehensive EBPP capabilities to businesses that send 2,000 or more bills per month. Many of these EBPP capabilities have been available previously only to the largest billers in the country.
“Consumers are looking for ways to simplify their finances and streamline their bill payment process. Our business customers want to meet this demand and offer consumers the best and most user-friendly billing and payment options,” said Sam Robb, senior vice president, U.S. Bank. “Biller Advantage from Fiserv will allow us to offer a multichannel EBPP solution to our business customers – a new offering that will allow them to more efficiently send bills and quickly accept payments. It is a complimentary extension to our existing e-payment suite of biller services.”
Using Biller Advantage, businesses can present electronic bills (e-bills) to customers at the business’s website or through the more than 4,000 financial institutions that are part of the eBill Distribution™ network from Fiserv. Electronic payments are accepted through a variety of channels including online, mobile, automated phone system (IVR) and customer assisted phone system (CSR).
By making it convenient for customers to view and pay their bills in their preferred channel, businesses can benefit from increased customer satisfaction as well as reduced reliance on paper checks and lower postage costs. U.S. Bank will have access to reseller and consumer adoption tools to assist businesses in driving end user adoption.
"Businesses are accustomed to turning to their bank for a variety of financial needs, and looking to their bank to address their need for electronic billing and payment capabilities is a natural extension of this existing relationship,” said Rahul Gupta, group president, Billing and Payments Group, Fiserv. “Fiserv has a long-standing history with U.S. Bank, and Biller Advantage will be another way we partner together to provide the best technology solutions to their diverse customer base.”
With the broadest, single-source range of billing and payment solutions, Fiserv enables companies to support all billing and payment channels, which include company websites, mobile devices, financial institution websites, walk-in, and print and mail. According to Aite Group, Fiserv is the largest provider of e-bill presentment, e-bill payments and walk-in bill payments in the U.S., processing more than 1.5 billion transactions on behalf of 25 million active bill pay users in 2014.