BROOKFIELD, Wis. — Fiserv Inc., a leading provider of information technology services to the financial industry, announced it has partnered with PayScan America Inc., obtaining exclusive rights to license PayScan's patented bar code bill payment process. By utilizing the PayScan barcode bill payment process and the Fiserv CheckFreePay Link platform, CheckFreePay will be able to offer an enhanced retail payment solution that will enable walk-in consumers to pay their household bills quickly and easily at retail checkout lanes and self-service kiosks.
This enhanced retail payment solution will use a "smart barcode" on the bill to record processing rules, including relevant payment data from a customer bill such as the account number. By scanning the bill at an existing retail point-of-sale terminal, a cashier or consumer can easily submit a payment without manual data entry.
"We believe in-lane bill payment services will transform the walk-in bill payment landscape," said Paul Harrison, senior vice president and general manager of Fiserv's CheckFreePay business. "For retailers, it will provide a more efficient walk-in bill payment process that leverages point-of-sale bar coding to reduce the chance for error. Billers could realize reduced processing costs, while their customers will enjoy a more convenient payment experience."
"Retail locations provide a convenient and cost-effective option for the 40 million consumer households that prefer to pay their bills in cash and in person," said Jennifer Roth, research director, global payments, TowerGroup. "Offering in-person, in-lane bill payments at retail point-of-sale registers will serve traditional walk-in bill payment customers, but will also appeal to consumers who typically pay by mail. This represents the next step in delivering automated efficiency and convenience in the walk-in bill payment market."
Today, retailers that offer walk-in bill payment services generally do so at customer service counters or other, separate locations within the store, because they cannot effectively handle bill payment in-lane. CheckFreePay Link with the in-lane bill payment option will offer retailers a solution that will allow consumers to pay their household bills while purchasing groceries and other household items in the checkout lane, creating a better customer service experience for consumers.
