CyberBills announced that it has signed an agreement with MasterCard International, enabling CyberBills to access MasterCard’s Remote Payment and Presentment Service on behalf of its channel partners and customers.
! CyberBills is among the first Customer Service Providers to join MasterCard’s combined electronic bill presentment and payment services program.
CyberBills’ online bill payment and presentment service allows consumers to receive, view, pay, manage and automate 100 percent of their bills – whether they are paper or electronic bills. Under the agreement, MasterCard will act as a bill presentment and payment “hub”, allowing Cyberbills to access electronic bills from MasterCard’s growing list of Biller Service Providers (BSPs), and present them quickly and seamlessly online to consumers. MasterCard’s RPPS program provides participating financial institutions flexible connectivity to process transactions without capturing or storing consumer or biller relationship information.
MasterCard’s 14 years of experience, along with its proven payments network, risk management and customer service infrastructure, will also enable companies like CyberBills to leverage MasterCard’s expertise, customer base and payment experience. By leveraging MasterCard’s existing payment relationships through the RPPS network, this collaborative effort with CyberBills will allow the payments industry to reach a greater number of potential online banking customers than ever before. As a result of this service, consumers have gained more convenience with access to more of their bills online, while billers have the opportunity to access a greater number of consumers than ever before. Member financial institutions can promote interoperability and leverage MasterCard’s extensive payments experience and “hub”. The full service offering is expected to be available to all banks, Customer Service Providers and Biller Service Providers in September 2000.
“Our relationship with MasterCard expands the options we can offer our customers,” said Murali Chirala, president and co-founder of CyberBills. “MasterCard’s RPPS network provides CyberBills’ channel partners and customers with access to one of the industry’s widest bill distribution network, where 95 percent of the CSPs and BSPs offer online bill payment and/or presentment services nationwide.”
“CyberBills is the pioneer in total online bill management,” said Ruth Ann Marshall, president, North American Region, MasterCard International. “We’re pleased to be working closely with industry leaders like CyberBills, who are committed to standards-based electronic bill payment solutions. We believe relationships like this will accelerate biller and consumer adoption of online bill presentment and payment services.”
MasterCard International has the most comprehensive portfolio of payment brands in the world. More than 1 billion MasterCard(R), Cirrus(R) and Maestro(R) logos are present on credit, charge and debit cards in circulation today. An association comprised of 22,000 member financial institutions, MasterCard serves consumers and businesses, both large and small, in 210 countries and territories. MasterCard is the leader in quality and innovation, offering a wide range of payment solutions in the virtual and traditional worlds. With more than 18 million acceptance locations, no card is accepted in more places and by more merchants than the MasterCard Card. In 1999, gross dollar volume exceeded US$727 billion. MasterCard can be reached through its World Wide Web site at [http://www.mastercard.com].
About CyberBills, Inc.
Founded in 1998, CyberBills is the first company to offer total bill management over the Internet. CyberBills, based in Santa Clara, Calif., provides businesses with the services and tools to offer a complete bill management solution that allows customers to view, pay, manage and automate all of their bills over the Internet. CyberBills’ services are available through a variety of channel partners including banks and financial institutions, brokerage firms, technology companies as well as financial and e-commerce portals. CyberBills also offers Total Bill Management(TM) directly to consumers at its own site, StatusFactory.com. The company handles bills and invoices in any format: paper, E-bills and as input from Biller Service Providers. For more information about CyberBills, visit [www.cyberbills.com].