The service, which is launched in collaboration with VeriSigns Messaging and Mobile Media Division, enables consumers to initiate payments using their phones text messaging service based on debit or credit card information entered online.
To use it, CPS customers first need to sign up for the Western Union Bill Alert Text Message service online or by telephone. Customers then enter their CPS account numbers, mobile phone numbers and credit card, standard debit card or prepaid card account information.
Once consumers have confirmed enrollment, monthly alerts are sent through VeriSign, detailing the payment amount due. Subsequently, consumers submit their payment approval by texting ‘Yescps’ directly through their mobile devices, initiating a Western Union Speedpay bill-payment transaction.
Western Union processes the payments which are then credited to the customers’ CPS account and charges consumers a USD 10 fee per transaction. Consumers can end their participation in the program at any time by texting ‘Stop’.
The service is available to CPS 290,000 borrowers and Western Union plans to offer it to other billers.
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