Fiserv, Inc., the provider of financial services technology solutions, announced that CheckFree(R) RXP(R), the online bill payment platform, has been updated with new features to make payments even faster and more convenient for consumers. The new features include an extended next-day payment cut-off time, longer payment history and a Quick Start Page that utilizes recommendation technology to speed the bill set up process for new users.
Faster Payment Delivery and Longer Bill Payment History Consumers who pay their bills online at the majority of the 3,000 financial institutions that utilize CheckFree RXP can now schedule payments for the next business day until 10:00 p.m. ET. This new cut-off time applies to most bills, and represents a significant extension from the current cut-off time of 5:00 p.m. ET. The later cut-off time also applies to transactions made using ZashPay(R), the person-to-person payment service accessible through financial institutions or at ZashPay.com.
Fiserv is already able to process more than 80 percent of the payments made through CheckFree RXP the same day or the next day, and now the solution is even faster. The company estimates that with the later cut-off time up to 14 percent more payments can now be processed by the next day.
“With this update, Fiserv has made the fastest bill payment and personal payment solutions in the market even faster,” said Erich Litch, division president, Digital Channels, Fiserv. “Consumers want quick, convenient payment options, whether it?s paying a bill at the last minute or sending money for tomorrow’s birthday present. If financial institutions combine fast payments with superior usability, it is much less likely that consumers will look elsewhere for such services.”
In addition to the extended cut-off time, CheckFree RXP users are now able to access 24 months of their payment history online. This enhancement, based on consumer and financial institution feedback, lengthens the payment history from the previously available 18 months.
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