We’re Modernizing Digital Payments With The ‘Best in Class’
We want to share some exciting news with you: Our parent company Paymentus was just awarded Best in Class by the financial services research firm Aite Novarica. We’re proud to be working alongside the best in the business of electronic bill payment and presentment (EBPP) — it’s yet more proof that we can help any financial institution, whether it’s a small credit union or a big bank.
When the acquisition was completed last August, we knew it would make Payveris even better for our clients and partners. Since then, things have not only gotten better but they have brought fantastic innovation and resources to Payveris and their clients. In October, we launched Bill Center, a real-time digital payment solution powered by the Instant Payment Network, which connects our advanced money movement capabilities with Paymentus’ integrated network of billers. It’s a one-of-a-kind partnership — no one else in the market can offer what Bill Center, Loan Payments and the Instant Payment Network unlock for financial institutions.
Working with Paymentus this past year, we’re even more convinced that there’s only one way to change the antiquated bill pay paradigm: You have to go wherever the consumer is. We know 75% of consumers prefer a centralized bill pay solution; no one wants to go to a dozen different sites just to pay their bills. But we also know direct biller payments have grown 123% in the past decade, and have grown only 6% at banks and credit unions. Our mission is to fix that.
By partnering with Paymentus, we can now do even more to help financial institutions of all sizes become the center of their customers’ payment activity. When you can give your customers real-time payment options, freedom to pay with preferred payment methods, and real-time bill pay confirmation, they’ll want to bank with you. This leads to greater retention and more loyalty, while also providing you more data and insights about your customers' payments and payment behavior.
We’ve already accomplished so much since this partnership began just a few months ago. Over 1,500 billers trust Paymentus as their bill pay partner. Over 10 million consumers currently use our technology to capture payments. Banks like JP Morgan Chase have launched digital bill payments for their commercial clients, powered by Paymentus. Financial institutions big and small are making it easier for their customers to pay their bills, with the support of the streamlined payment solutions we’re building together.
And we’re just getting started.
With Paymentus innovations coupled with our ongoing commitment to products enhancements, we’re doubling our investment in R&D to ensure we’re not just an industry leader today, but remain a leader for years to come. Consumers increasingly expect the same functionality wherever they bank, so we’re determined to help financial institutions give them what they want. For 20 years, the fintech industry has dreamed of harnessing direct biller functionality for financial institutions. Payveris and Paymentus are finally making that dream a reality. Join me, and take a moment to share in this fantastic news and thank our staff, customers, and supporters for such a momentous event. To read the Aite report, you can download it here.