Enterprise at a Glance
December 22, 2008
ClearTran Service Enhancements Designed to Speed Consumer Bill Payment and Reduce Fees
To provide banks with the most advanced solutions available for streamlining receivables and expanding bill payment options, BNY Mellon Enterprise Treasury Services now offers Electronic Bill Presentment and Payment (EBPP) and PINless Debit card processing services through ClearTran, a department of The Bank of New York Mellon Treasury Services division.
EBPP provides banks and their business clients with a cost-efficient method of delivering electronic bills and invoices that can be paid over the Internet via electronic check (ACH) or credit/debit card. Benefits include:
- more reliable, faster bill payment and receipt delivery;
- reduced costs for billing statement and production, customer service labor and overhead;
- control over brand identity via online logo/appearance of bills; and
- additional channels for marketing products and services to clients.
Banks, and their business clients, can offer consumers a faster way to pay their bills via EBPP, while also saving them check writing and mailing costs.
PINless Debit enables banks and their business clients to enable consumers to pay their bills by entering their card-based debit account number (as opposed to their PIN number) through the banks' call centers, Web sites or interactive voice response (IVR) systems. As with traditional PIN debit payments made via a merchant's point-of-sale terminal, PINless debit processing quickly guarantees funds to the biller, and offers benefits including:
- significant cost-savings potential, as PINless Debit transactions are the lowest-cost method of card-based payment available;
- immediate funds confirmation (eliminating costs associated with returned items) and next-day settlement;
- increased opportunity to electronify consumer payments; and
- faster, simpler bill payment methods for a client's customer base.
ClearTran offers electronic payment processing solutions that provide NACHA (The Electronic Payments Association) and Payment Card Industry (PCI) compliant technology to help banks and organizations (e.g., utility, telecommunications, financial services, healthcare and insurance companies) to quickly and efficiently accept and process the payments they receive over the telephone, through automated voice systems (IVR / VRU) or over the Internet.
ClearTran services are available to banks for their own use in their retail banking environment, as well as on a co-branded basis for resale to commercial clients that want to offer convenience payment solutions to their own consumer clients.
To learn more about ClearTran's latest service enhancements or our comprehensive B2C solutions, call Kevin Fahey of ClearTran at 1 800 946 8355 or e-mail us at treasury@bnymellon.com.