Digital payments service provider ATX Fintech Holdings Sdn Bhd has collaborated with Mastercard Inc to introduce a new bill management and payment tool that allows consumers to view and consolidate bills from multiple billers. Dubbed Mastercard Bill Pay, this makes Malaysia the first country in the Asia Pacific region to roll out the facility for consumers.

With this new tool, Malaysians will be able to view, pay, and manage various types of bills all in one place – on ATX’s digital wallet, GOPAY, or its online payment platform, PAYHUB2U. Some bills that can be viewed and managed through Mastercard Bill Pay include your telco, utilities, council, parking, insurance, and subscription bills.

“With Mastercard Bill Pay, customers can make bill payments through one app with varying options, such as linking their bank accounts and saving their card credentials. Consumers will also have access to features such as real-time reminders on unpaid bills so that they can keep better track of statements and payment due dates,” said the chief executive officer and founder of ATX, Sashie Kumar, adding that it has integrated 13 billers at present.

Sashie also shared that the launch of Mastercard Bill Pay is aimed at addressing some of the inconveniences that consumers experience when paying their bills, such as having to remember multiple login credentials in order to access each biller’s websites. “Mastercard Bill Pay provides efficiency, transparency, speed, and accessibility for consumers by providing multiple payment options and real-time communication,” he said.

Additionally, Sashie shared that users can look forward to future updates that will see the bill management tool equipped with several new features soon, including payment scheduling, e-bill viewing, bill analytic dashboards (in the GOPAY app), as well as payment instalment options. ATX is also planning to increase the number of billers in the tool through more partnerships to provide more options and convenience for consumers.

Meanwhile, country manager of Mastercard (Malaysia & Brunei), Beena Pothen highlighted that consumers are not the only ones who will benefit from Mastercard Bill Pay; billers, too, can enjoy a measure of convenience via the tool. “Rather than the bill presentment options, the collection part becomes a lot easier for the merchants. So the merchants are willing to pay a small fee for the convenience that they would get,” she explained.

Beena also shared that although Malaysians pay over RM113 billion via a bulk of more than one billion bills every year, only 50% of them are digitised. Hence, she believes that Mastercard Bill Pay is aptly positioned to not just make bill payments more seamless and secure, but also to help boost the adoption of digital payments among Malaysians.

(Sources: The Sun Daily, Digital News Asia)

• TAGS:
• ATX Fintech Holdings Sdn Bhd
• Beena Pothen
• Bill Payments
• GoPay
• Mastercard
• Mastercard Bill Pay
• Sashie Kumar