Billeo today announced PayDirect Assistant, an online service that adds features to banks' online bill pay services. The service allows bank bill pay customers to make immediate payments – even on the bill's due date – using their debit card or credit card.
"We developed PayDirect Assistant to address two common points of frustration for consumers who use their bank's online bill pay services. They can't pay bills instantly, and they can't pay with a card. In fact, of the 31 million bank pay customers, more than half still go to a biller's website to make a same-day payment or earn rewards by paying with a card," said Murali Subbarao, founder and CEO of Billeo, in a statement. "PayDirect Assistant provides an easy way for our banking partners to enhance their online bill pay services with little effort on their part, attract new bill pay customers and improve their existing customers' bill pay experiences with added choice and speed."
More than 8,000 billers accept credit and debit cards as payment and 47 million households currently pay directly to biller websites, according to Billeo. This service is intended to let these households pay all their bills from their bank's website.
Billeo's PayDirect Assistant autofills information such as passwords and credit card numbers and keep bill payments organized on the bank's website.
"The card-based online bill pay space is projected to be $1.4 trillion in volume, making the service very attractive to banks," Subbarao said. "We are working with our various bank partners to enhance their bill pay offerings with features that their customers want, thereby improving customer satisfaction and retention. PayDirect Assistant is a win-win-win for banks, billers and their customers alike."
Billeo already works with several large financial institutions to help improve their customers' online shopping and bill pay experiences, including Visa, American Express, Discover, Wells Fargo, U.S. Bank and NetSpend.