TD Bank deploys Fiserv's e-billing tool

Enhanced Online News writes.

CheckFree RXP will provide TD Bank customers with more control over their bill payment tasks and will enable them to receive e-bills from more than 400 national and local companies directly within their online banking service.

According to Finextra, CheckFree RXP enables bill payment for tens of millions of consumers and is offered by 3 800 financial institutions, a number that increases each month.

The service combines practical features such as expedited and recurring payment capabilities and the ability to receive alerts, with an intuitive user interface to make it easy for consumers and businesses to maintain control over their bill payment activities.

The majority of payments scheduled through the service can be delivered electronically the next business day, which adds flexible payment options for consumers and improves operational efficiency for financial institutions and billers.

CheckFree RXP is routinely updated by Fiserv via centrally deployed 'Feature Packs', ensuring that TD Bank and their customers will have ongoing access to the most up-to-date payment capabilities.

“The integration of the service into the bank's existing online banking solution will make bill payment even more convenient and accessible for users,” says Rahul Gupta, group president, Digital Payment Solutions for Fiserv, in a statement, Banktech notes.

In conjunction with CheckFree RXP, the bank will also implement Fiserv's FraudNet solution, an automated fraud detection system designed to mitigate the risk of fraudulent transactions.