Fiserv said that CheckFree RXP, the online bill payment services platform, is being updated with features designed to increase consumer usage of online billing and payment. The new features, which include a bill pay widget, a tool for managing fee-based payments, and upgraded electronic bill activation and storage are being deployed via ‘Feature Packs’. Feature Pack updates are deployed centrally and enable the implementation of new functions ensuring that the Fiserv network of financial institutions, billers and their customers have access to the most up-to-date online bill payment capabilities.
The CheckFree RXP overnight check payment option meets a need for fast payment delivery to billers with which Fiserv does not have a direct electronic payment connection, such as a local insurance company or other small business. Consumers can select the overnight check option to quickly pay these billers, thereby avoiding late fees or interruption of service. Upon delivery of the payment a tracking number is sent to the consumer via email for his or her records.
The bill pay widget makes it easy for consumers to schedule bill payments from the bank or credit union’s online banking home page. It is a condensed display of key criteria, including the biller to be paid, the pay date and the amount, which allows a user to make a payment quickly to any biller they have previously paid.
Erich Litch, senior vice president and general manager of consumer services at Fiserv, said: “Fiserv primary research and our experience with some of the most innovative financial institutions in the industry indicate that one of the best ways to encourage consumers to change their behavior and try a new online service is to make it readily available and highly visible. The average online banking user logs into their service 15 times per month. Integrating bill pay more seamlessly into the online banking home page makes it more easily accessible during these frequent visits, which can lead to increases in adoption, usage and on-time payments.
“Experience has shown that e-bill usage is heavily influenced by the promotion of e-bills directly within the online bill payment service. When Fiserv promoted e-bill activation through the addition of a thumbnail image of bills in a previous Feature Pack, activations rose 30 percent. Enabling consumers to easily sign up for e-bills within the process of adding a new biller can remove some of the confusion and barriers to adoption and streamline the activations of e-bills. “
