Digital payments company Payrailz is teaming with Mastercard to launch a pilot of the Mastercard Bill Pay Exchange, a real-time payment solution that works directly with digital banking apps, Payrailz said in a press release on Wednesday (Dec. 18).
The goal is to offer users an easy way to view, manage and pay bills. The pilot will integrate the Payrailz Smart Payments Platform with Mastercard Bill Pay Exchange, which will give customers a centralized and streamlined solution to access bills through their bank’s app or website. Billing accounts can be securely linked so that payments can be made through Payrailz.
“The Mastercard Bill Pay Exchange represents a major shift in the way consumers, billers and financial institutions will handle bill payments,” said Fran Duggan, CEO and co-founder of Payrailz.