Mastercard International Inc.
Tuesday expanded its online services by increasing the number of bills
available to be paid online with a new bill presentment service.
MasterCard’s new services are designed to allow it to act as a connectivity
“hub” for biller service providers and customer service providers, in which
billers can send their bills to any MasterCard customer. The bill
presentment technology is provided by Just in Time Solutions, which provides
the standards-based bill presentment software.
The company said it will provide participant financial institutions with
flexible connectivity to process transactions and will not
capture or store consumer or biller relationship information. The company
does not compete for a participant’s consumer demand deposit account base or
corporate lockbox clients.
Participants in the program include Princeton e-Com, a biller service
provider in the business-to-business markets; Online Resources &
Communications Corp., which provides a debit service to pay customers bills
automatically and PayMyBills.com, a
consumer-based bill payment site.
MasterCard said it will announce additional participants in upcoming months
and the full service offering is expected to be available to all financial
institutions by September.
“MasterCard’s solution will meet the needs of both consumers and billers,”
stated Ruth Ann Marshall, president of MasterCard’s North American region. “By incorporating the Open Financial Exchange standard and
our existing connectivity, MasterCard and its participants in this program
are positioned to deliver nationwide interoperability between all players.”
