The New Digital Payment Technology by Allied Payment Network will Enable Centralized Bill Payments!

By CIOReview | Thursday, July 4, 2019

The real-time digital bill payment technology will enable consumers to centralize their bill payments rather than making several different payments at the individual websites of the billers.

FREMONT, CA: Commerce and transactions have evolved from exchanging objects to exchanging currency in the form of digital data. The emergence of digital payments has facilitated convenience as well as accessibility, eliminating the need for carrying cash. Consumers can now conduct seamless transactions from any part of the world.

Many companies have contributed to the development of digital payment technology, and Allied Payment Network is prominent among them. It delivers online and mobile bill payment services to banks and credit unions. The company recently launched its real-time digital bill payment technology at Finastra’s FusionONE open banking developer conference in London.

The company has several years of expertise in providing bill payment technology. PicturePay, its award-winning solution, is a photo bill pay application developed for smartphones. Its suite of online and mobile payment channels include internet bill pay, small business payments, person-to-person, account-to-account, online loan payments, and so on.

The company’s Pay Now technology can be incorporated with application programming interfaces (APIs) of banks to create, deploy, and modernize the processes of banks and credit unions. Allied Payment Network collaborated with Finastra, a financial services software provider, to develop the technology. It leveraged the FusionFabric cloud open platform, which enables developers to deliver the technology directly to the financial organizations to aid them with their services.

The real-time bill pay solution can assist financial institutions to retain and grow their consumer base by offering highly engaging innovative technology. The modern consumers expect their banks to possess robust and seamless digital capabilities. By incorporating the real-time bill payment technology, banks can stand out as the leaders of digital technology, building engagement that leads to significant growth in the competitive marketplace.

The FusionFabric cloud platform will drive value to the financial organizations, enabling them to offer innovative services to their account holders. The robust features incorporated into the solution will allow real-time bill payments from the websites and apps of banks and credit unions. It will enable a smooth transfer of funds from user bank accounts to the billers and facilitates prompt payment confirmations. The customers will be able to manage all their bills in one place, rather than to make payment at individual biller’s websites. The feature will not only aid in retaining current customers but will also appeal to potential customers.

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