According to the official press release, Fiserv will leverage this newest collaboration to expand access to walk-in bill payment options for cash-preferred customers.
More precisely, following the partnership, consumers who prefer paying for household bills – including rent or topping up their digital accounts in person by cash – will have the option to do this from more than 60,000 locations in the US.
This will be possible as Fiserv, a processor of walk-in bill payments in the US, will reportedly double its CheckFreePay agent network size to feature over 30,000 retailers that extend gift cards via BHN. This will purportedly encompass big box stores, national grocery chains, speciality retailers, post offices, and pharmacies.
CheckFreePay from Fiserv has been providing walk-in bill payment processing services in the US for over 30 years, catering to consumers who prefer to settle their bills in person.
To pay at a BHN retail network location, consumers will be prompted to present a scannable barcode – which includes the bill payment details – that is featured on their printed bill or downloadable via smartphone. Next, the information will be shared through the BHN gift card platform with Fiserv – to facilitate the process of sending the payment to the payee. The BHN agent will then offer the customer a receipt confirming the payment.
The process is expected to eliminate the need for the agent to manually input the payment information and, consequently, speed up the transaction process and reduce the risk of any potential errors.
Officials from Fiserv stated that their partnership with BHN strives to meet the demand for fast payment options sought by consumers who prefer using cash. They further added that leveraging digital barcode technology to achieve this will enable these customers to pay their bills at locations they already visit.
Fiserv is a payment and financial technology company that offers services encompassing account processing and digital banking solutions, card issuer processing and network services, payments, ecommerce, and merchant acquiring and processing, among others. Fiserv additionally extends Clover, a cloud-based point-of-sale and business management platform.
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