Mastercard Launches Real-Time Bill Payments via Banking Apps

Mastercard launched Mastercard Bill Pay Exchange a real-time bill payment and presentment service. This will give issuers the opportunity to recapture ground lost by consumers opting out of online and mobile bill-pay services in favor of visiting biller sites directly to pay their bills.

The Bill Pay Exchange leverages Mastercard’s network of 135,000 billers and the real-time payment capabilities of Vocalink and The Clearing House (TCH) to provide the same direct-biller customer experience via issuer-branded mobile apps for banks that are already part of the Vocalink/TCH real-time payments system.