Bill Payment enables you to offer your customers many additional benefits, including the convenience of doing their banking and paying their bills whenever they want, better control over their finances, and savings from postage costs.

The benefit to your bank is that you have satisfied customers who will stay with you. A Gartner Inc. survey found that consumers who signed up to pay bills online were twice as likely to stay with their banks. And these customers on average have a 40% higher balance compared to other customers.

Metavante Banking Solution’s Bill Payment includes features that enable the end user to schedule one time payments, recurring payments (monthly, weekly, biweekly) and to set up merchants paid by check or electronic means. If your bank provides payment electronically to specific merchants, all the end user has to do is select that merchant from a drop down list and the pertinent fields are populated.

For merchants that your bank pays by check, Metavante Banking Solution’s Bill Payment will generate a payments file each day and print the corresponding checks for you. The system also produces an issued transactions file that helps your institution reconcile bill payments made by check and reduces the chances of fraud.

Bill Payment’s online research tool enables reviewing of pertinent information regarding individual customer accounts and the system as a whole. You can view all payments issued in a given period or view specific payments issued for an individual customer. This tool also allows you to see a master list of payees that will help you identify candidates for electronic payment and possibly build stronger relationships with local merchants.

With Bill Payment from Metavante Banking Solutions, your bank drives the process and in turn will drive more customers to your online banking module.