Online Bill Payment Marketing Program



 

MasterCard RPPS Electronic Payments Maximizer

The MasterCard RPPS® Electronic Payments Maximizer compares your check file to the MasterCard RPPS Online Biller Directory—a constantly updated directory of thousands of billers—to determine if any payments earmarked as checks can be converted to electronic payments.

 

MasterCard RPPS Account Conversion Technology

Account Conversion Technology from MasterCard RPPS helps you dramatically reduce the number of unpostable payments by automatically identifying and converting account numbers when they change.

     
 

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MasterCard RPPS delivers the most advanced electronic payment services available, setting the standard for the industry. We understand and fully support your needs—and we’re ready to manage your online bill payment tasks so you can concentrate on building your business in this expanding environment.

   

A Marketing Program with Proven Results

 

MasterCard RPPS understands competing successfully takes more than fast, accurate, reliable payment capability (as important as it is). You also need tools that keep pace with the fast-evolving IT environment, a clear understanding of industry developments, and effective strategies for a competitive marketplace.

From ongoing product enhancements to public advocacy, from consumer awareness programs to business-building marketing initiatives, from sales support to proactive account management, MasterCard RPPS is more than a transaction processor. We add value every step of the way.

MasterCard RPPS continues to bring product innovations to market that help to optimize the electronic bill-payment experience from end to end.
   

A Marketing Program with Proven Results

 

Take full advantage of the MasterCard RPPS Online Biller Directory

There’s a service that can help you process as many payments electronically as possible. The MasterCard RPPS Electronic Payments Maximizer compares your check file to the MasterCard RPPS Online Biller Directory—a constantly updated directory of thousands of billers—to determine if any payments earmarked as checks can be converted to electronic payments. It does this automatically through an exhaustive, high-speed search that targets both primary and secondary biller names (“Con Edison” and “Con Ed”, for instance) and a variety of other critical identifiers to maximize the number of electronic payments that are matched with electronic-capable billers.

Reduce the cost of delivering online banking bill payment

This proactive network solution can help you maximize electronic payment volume, reduce payments that drop to paper check, and decrease call center support expense required to help consumers with online banking bill-payment exceptions or perceived problems. The Electronic Payments Maximizer replaces the time-consuming manual process of researching payments dropped to paper check and trying to identify opportunities for converting them to electronic payments.

Build your image as a trusted provider

Consumers expectations are that bill payments made online are electronic. With the Electronic Payments Maximizer, you’ll reduce disenchantment caused by exceptions that undermine consumers’ expectations that online equals electronic. You’ll also support consumer preference to pay bills at a single site and improve your reputation as a reliable, online banking bill-payment service.

Dramatic Results in Every Case

 

The number of U.S. households that pay bills online is slightly less than half of U.S. adults — 46%, or 107 million — in 2009. 1. That makes unpostable payments—bill payments that a biller receives but is unable to credit, or post, to the correct customer accounts—a large problem for consumers, bill-payment originators, payment receivers, lockbox service providers, and billers. In fact, it costs everyone involved over a half-billion dollars annually. 2. Furthermore, when consumers experience unpostable payments, customer satisfaction plummets.

Unpostable payments are particularly costly to high-volume billers in areas where account change events are common, such as the telecommunications, utility, loan processing, and credit card industries. Mergers, acquisitions, and portfolio conversions can all derail the accounts receivable process, and matching old account numbers to new numbers is often slow and resource consuming.

A proven solution

Account Conversion Technology from MasterCard RPPS helps you dramatically reduce the number of unpostable payments by automatically identifying and converting account numbers when they change. It lets you process more electronic payments accurately, inexpensively, and quickly.

Rapid posting and receipt of funds—and higher volume for you

MasterCard RPPS Account Conversion Technology lets you and your billers avoid payment-posting and routing issues that stem from incorrect consumer account information. It enables the MasterCard RPPS network to automatically identify incoming payments that require account number conversion, convert them to the new account numbers, and reroute payments to the appropriate recipient.

The service can also improve your billers’ cash collection significantly because not only will they receive funds faster, but those funds are guaranteed. Combine that with the elimination of rejected payments, and it spells higher electronic transaction volume—and increased incremental revenue—for you.

Help make your customers’ customers happier

The service prevents the disenchantment of consumers, who expect that online equals electronic. It also helps eliminate service disruption, late fees, and credit impact to consumers—all of which can lead to improved satisfaction for your billers’ customers.

By converting account numbers within the MasterCard RPPS payment-processing cycle, prior to payment delivery, MasterCard RPPS Account Conversion Technology keeps the processing electronic, ensures correct posting, and prevents payment rejection and return to the bill-pay originator. The MasterCard RPPS database maintains the account number conversion information to continually convert recurring bill payments, eliminating any payment defects indefinitely.

The mechanism is entirely invisible to consumers—all they see is smooth, seamless online banking bill payment, without disruption.

Drastically cut the costs associated with unpostable payments

Your biller customers that have changing portfolios suffer significant hard costs managing unpostable payments and associated customer service calls. Those payments also cost time and money in manual research and resolution, and if they aren’t caught quickly, future exception payments require a manual scrub file exchange with bill-pay originators. When exception payments are eliminated, so are the costs involved in resolving those problems.

MasterCard RPPS Account Conversion Technology also delivers Automated Notifications of Change—a feature unique to MasterCard RPPS—to inform bill-pay originators of account number changes. The notification allows bill-pay originators to proactively correct future payments and saves you and your billers the time and expense of following up on unpostables.

In addition, an integrated stop-payment service spares billers the expense of researching unpostables that ultimately cannot be accepted (e.g., due to special handling, such as collections, bankruptcy filings, or written-off accounts). The service automatically checks payments against a biller’s stop-payment file and prevents designated payments from reaching the biller, and it automatically alerts the bill-pay originator to the stopped payment.

Find Out More Today

 

MasterCard RPPS adds value across the electronic payments landscape. Learn more today!

MasterCard RPPS delivers advanced electronic payment services, setting the standard for the industry. We understand and fully support your needs—and we’re ready to manage your online bill payment tasks so you can concentrate on building your business in this expanding environment.

  • Our dedicated Account Support staff offers expert, timely assistance. When you contact MasterCard RPPS Account Support, you will reach a trained product specialist to help you with your bill payment processing needs.
  • Public advocacy, consumer awareness programs, marketing initiatives, sales support, and proactive account management are designed to improve your bottom line.

 

1. Javelin Strategy & Research - 2010 Online Banking and Bill Payment Forecast.
2. TowerGroup Research, Unpostable Bill Payments: How Much Are They Costing You?, 9/06

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