Citibank is to join MasterCard's Remote Payment and Presentment Service in a move designed to accelerate customer uptake of electronic bill payment services.
With access to the MasterCard RPPS hub, Citibank's EBPP (electronic bill presentment and payment) service, Citibank Bill Manager, which is provided through Paytrust, will be able to receive a greater number of bills electronically for presentation to its customers.
MasterCard's RPPS offers one interface to multiple Customer Service Providers (CSPs) and Biller Service Providers (BSPs) for the receipt and payment of bills. The system also provides overnight transaction processing and settlement of bills and payments between CSPs and BSPs.
Susan Ehrlich, director of Citibank's consumer EBPP says: "By working with MasterCard RPPS and Paytrust, Citibank gains access to an open, state-of-the-art hub that allows us to avoid multiple connections with multiple protocols and limited use."
The announcement builds upon Citibank's recent efforts to maximise the reach of electronic bill payment and presentment to both its consumer and corporate customers. In late May, the bank announced its participation with Spectrum EBP, to provide corporates with enhanced electronic bill distribution to their customers.