Update at a Glance
January 12, 2009
ClearTran Service Enhancements Designed to Speed Consumer Bill Payment and Reduce Fees
To provide businesses with the most advanced solutions available for streamlining receivables and expanding bill payment options for their customers, ClearTran now offers Electronic Bill Presentment and Payment (EBPP) and PINless Debit card processing services.
EBPP provides billers with a cost-efficient method of providing their customers with electronic bills and invoices that can be paid over the Internet via electronic check (ACH) or credit/debit card. The service enables clients to achieve:
- more reliable, faster bill payment and receipt delivery;
- reduced billing statement and production costs, as well as lower costs related to customer service labor and overhead;
- brand identity control via online logo/appearance of bills; and
- additional channels for marketing products and services to clients.
Organizations can provide their customers with a faster way to pay their bills via EBPP, while also saving them check writing and mailing costs.
PINless Debit enables billers to provide consumers with the ability to pay their bills by entering their card-based debit account number (as opposed to their PIN number) through billers' 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 provides funds to the biller, and offers:
- 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 clients' customer base.
A department of The Bank of New York Mellon Treasury Services division, ClearTran offers electronic payment processing solutions that provide NACHA (The Electronic Payments Association) and Payment Card Industry (PCI) compliant technology to help organizations (such as utility, telecommunications, financial services, healthcare and insurance companies) quickly and efficiently accept and process payments that are received over the telephone, through automated voice systems (IVR / VRU) or over the Internet.
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.