CHICAGO--(BUSINESS WIRE)--R.R. Donnelley & Sons Company (RRD) (NYSE: RRD), a leading global provider of multichannel solutions for marketing and business communications, will help power Mastercard Bill Pay Exchange, a new digital solution to help consumers view, manage, and pay their bills in real time.
The majority of Americans (60%) are anxious about their bills, yet only 13% of consumers have a bill-paying strategy centered around due dates, and nearly half (46%) pay their bills late. Mastercard Bill Pay Exchange aims to alleviate some of these challenges — which impact both consumers and billers — by making bill payment more streamlined and user friendly, as well as enabling payments to be processed in real time to help consumers avoid late fees.
With Mastercard Bill Pay Exchange, consumers can use their bank’s website or mobile app to easily add billers, view bill details, receive due-date notifications and payment confirmations, and pay bills (including how much and when to pay). Billers receive access to a new billing and payment channel, which can reduce the cost of mailing paper bills and processing checks, provide faster reconciliation, and lower customer support costs because of added payment transparency.
“As a technology-driven company on the forefront of multiple innovations, RRD is excited to drive change in the bill payment space,” said John Pecaric, President, RRD Business Services. “This digital solution will transform a previously disjointed consumer experience and help consumers avoid late fees, while giving billers a way to reduce costs and boost on-time payments — thus benefiting both sides of the bill-payment process.”
“Since first announcing Bill Pay Exchange, Mastercard has continued to evolve this digital solution to benefit consumers, billers and financial institutions alike,” said Ronald Shultz, executive vice president, New Payment Flows, North America, Mastercard. “With the help of our trusted pilot partners, this solution will bring speed, transparency and efficiency to bill payments for the masses.”
RRD is a leading global provider of multichannel business communications services and marketing solutions. With more than 50,000 clients and 39,500 employees across 34 countries, RRD offers the industry’s most comprehensive offering of solutions designed to help companies—from Main Street to Wall Street—optimize customer engagement and streamline business operations across the complete customer journey. RRD offers a comprehensive portfolio of capabilities, experience and scale that enables organizations around the world to create, manage, deliver, and optimize their marketing and business communications strategies. For more information, visit the Company's web site at www.rrd.com.