CHICAGO--(BUSINESS WIRE)--R.R. Donnelley & Sons Company (RRD) (NYSE: RRD), a leading global provider of multichannel solutions for marketing and business communications, will help power Mastercard Bill Pay Exchange, a new digital solution to help consumers view, manage, and pay their bills in real-time payments for the masses.”
The majority of Americans (60%) are anxious about their bills, yet only 13% of consumers have a bill-paying strategy centered around due dates, and nearly half (46%) pay their bills late. Mastercard Bill Pay Exchange aims to alleviate some of these challenges — which impact both consumers and billers — by making bill payment more streamlined and user friendly, as well as enabling payments to be processed in real time to help consumers avoid late fees.
With Mastercard Bill Pay Exchange, consumers can use their bank’s website or mobile app to easily add billers, view bill details, receive due-date notifications and payment confirmations, and pay bills (including how much and when to pay). Billers receive access to a new billing and payment channel, which can reduce the cost of mailing paper bills and processing checks, provide faster reconciliation, and lower customer support costs because of added payment transparency.