U.S. Bank Brings the Power of Request for Payment (RfP) to Billers | Business
MINNEAPOLIS–(BUSINESS WIRE)–Nov 8, 2021–
U.S. Bank has expanded its Request for Payment (RfP) services to help billers provide a better bill payment experience to customers. With RfP capabilities added to U.S. Bank eBill Service – a leading digital solution for accounts receivables teams – U.S. Bank commercial clients will now have access to a fully integrated bill delivery and payment platform with the RfP capabilities.
With RfPs, consumers will be able to choose to have their bills delivered directly to them through their bank’s website or app. RFPs provide consumers flexibility and convenience in paying their bills and certainty that the payment has cleared, instantly. Payments can be made 24 hours a day, 365 days a year. Billers benefit from RfPs – which are sent over The Clearing House’s RTP ® network – in many ways, including immediate settlement, reduced costs due to less paper payments, and improved visibility into when the payment will be made.
The U.S. Bank eBill Service enables billers to offer their customers simple payment options through their preferred channel. With the addition of real-time payments to popular features such as pay-by-text, Apple Pay®, Google Pay® and Amazon Alexa®, U.S. Bank enables its clients to offer a best-in-class billing and payment experience.
“Digital payment technology is constantly evolving, and so are we,” said Rich Erario, executive vice president and head of Global Treasury Management at U.S. Bank. “Adding RfP capabilities to our eBill Service is just one of the ways we are helping our clients streamline operations, reduce costs, and offer simple and secure real-time payment options.”
“Real-time payments are transforming and enriching the entire bill payment experience. By leveraging our industry leading platforms, we’re able to continue to meet and exceed our customers’ bill payment needs today while positioning them for the future — in real-time,” Erario continued.
The addition of RfP capability to eBill Service adds to the numerous ways U.S. Bank clients can send RfP messages to engage their customers through their preferred digital banking channel, reducing customer friction, increasing speed and certainty of payment. In addition to the use of the eBill Service, U.S. Bank clients can send RfPs using SinglePoint, its leading treasury portal, through APIs using the U.S. Bank Developer Portal, and via direct file transmission.
About U.S. Bank
U.S. Bancorp, with nearly 70,000 employees and $567 billion in assets as of September 30, 2021, is the parent company of U.S. Bank National Association. The Minneapolis-based company serves millions of customers locally, nationally and globally through a diversified mix of businesses: Consumer and Business Banking; Payment Services; Corporate & Commercial Banking; and Wealth Management and Investment Services. The company has been recognized for its approach to digital innovation, social responsibility, and customer service, including being named one of the 2021 World’s Most Ethical Companies and Fortune’s most admired superregional bank. Learn more at usbank.com/about.
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CONTACT: Todd Deutsch, U.S. Bank Public Affairs & Communications
[email protected]| 612.303.4148
KEYWORD: UNITED STATES NORTH AMERICA MINNESOTA
INDUSTRY KEYWORD: PROFESSIONAL SERVICES DATA MANAGEMENT TECHNOLOGY FINANCE SOFTWARE BANKING
SOURCE: U.S. Bank
Copyright Business Wire 2021.
PUB: 11/08/2021 09:30 AM/DISC: 11/08/2021 09:32 AM
Copyright Business Wire 2021.