Finance Breaking news BNY Mellon taps RTP network for digital bill-pay play last financial news
Breaking-Finance.Com - BNY Mellon is taking advantage of The Clearing House's RTP network for a new real-time electronic bill and payment service.
Breaking-Finance.Com - BNY Mellon is taking advantage of The Clearing House's RTP network for a new real-time electronic bill and payment service. The service will let businesses present digital bills to their consumer clients in real-time and receive instant payment via the customers' preferred online and mobile banking channels. Firms can also tap real-time integrated messaging through APIs to provide instant, end-to-end straight through processing from bill-presentment to payment to reconciliation.
. Touting the benefits, the bank says that firms get higher straight through processing levels, faster collections, simplified reconciliation, increased transparency and lower costs. Customers gain greater convenience, transparency and control of their cash flow, while the environment benefits from cutting paper-based processes. Mike Bellacosa, global head, payments and transaction services, BNY Mellon, says: "Innovation in the bill-pay space is long overdue, and BNY Mellon’s e-bill solution is the transformative technology that will drive this change and improve the client experience."
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