Digital Digital Payments News

Conduent Collaborates with BNY Mellon to Launch New Digital Hub That Expands Access To Faster, Easier And Secure Payments

Conduent Incorporated , a global technology-led business process solutions company, announced the launch of its new Digital Integrated Payments Hub enabling businesses and public sector agencies to access secure, faster, and cost-effective options to send, request or receive payments.

By integrating the payment capabilities of BNY Mellon’s trusted infrastructure, Conduent’s new Digital Integrated Payments Hub speeds up refunds, rebates, and overpayment remediations from as many as 10 days to a matter of minutes, while providing the ability to conveniently and transparently track transactions.

Read moreRobotics And Artificial Intelligence

Conduent is the first business process outsourcing provider to offer a centralized platform consolidating different payment processes and systems, including the latest solutions such as Real Time Payments from The Clearing House and Zelle®, reducing the cost of paper checks and creating an enhanced customer experience.

“We know that consumers increasingly prefer the convenience, immediacy, and security of established digital payment services. By adding BNY Mellon as our payments infrastructure provider, we can now offer clients across the Government, Commercial and Transportation segments new payment options that reduce costs, mitigate fraud and provide timely benefits,” said Rob Houser, Global Head of Strategy & Corporate Development at Conduent.

“Conduent’s Digital Integrated Payments Hub becomes a natural, technical integrator to our existing suite of services at a time when many commercial and public sector clients are focused on gaining efficiencies and improving the customer experience,” Conduent’s Houser added.

ReadLet’s Understand Crypto In A Layman Language

As the first institution to originate a payment on the RTP network, BNY Mellon’s collaboration with Conduent is the latest example of the bank’s commitment to transforming the global payment system. “By marrying our 238-year legacy of trust and innovation with investments in the newest capabilities, BNY Mellon is providing the means for businesses to expand consumer access to a range of popular and proven payment technologies,” said Carl Slabicki, co-head of global payments at BNY Mellon. “The benefits in transportation alone could make commuting a more seamless experience.”

  • Transportation authorities can add RTP® Request for Pay as an option for motorists to safely and efficiently satisfy tolling, parking, and transit fees.
  • Instead of issuing a rebate or refunds check that is costly to execute and manage, organizations can use Zelle® to send funds to consumers for over-the-counter medicine or merchandise and therefore avoids collecting sensitive account data.
  • Government agencies can authenticate account ownership and account status as a fraud mitigation tool, therefore expediting the validation process prior to providing benefits to those who need them most.
  • Companies’ and government agencies’ accounts payable systems can go nearly paperless using digital payments to pay vendors through their account payable systems.

Digital payments also provide an opportunity for companies, agencies, and consumers to reduce their environmental footprint. Paper from 2.3 billion checks and discarded envelopes total nearly 455,000 trees each year, according to estimates from BNY Mellon.

The Digital Integrated Payments Hub has a simple API, connecting clients seamlessly with a single connection that allows for sending payment instructions or accessing data for payment reconcilement quickly and securely. The hub builds on Conduent’s current payment solutions offerings, including Automated Clearing House (ACH) transfers, pre-funded debit cards and PayPal, for example. The capabilities also integrate with other Conduent services, such as with Conduent’s customer experience platforms and customer care associates, who often are responsible for supporting processing refunds, rebates and payment requests on behalf of citizens and business customers.

Read : Cybersecurity Timeline and Trends You Should Know before Planning for 2023

[To share your insights with us, please write to sghosh@martechseries.com]

Related posts

Aleph Zero Invites Community Validators to Mainnet

Fintech News Desk

MagTek Launches the DynaFlex Platform, Delivering a Range of Payment Acceptance Capabilities in a Small Footprint for Mobile, Countertop, and Kiosk Deployments

Fintech News Desk

Tampa Continues to Innovate and Offers Parkers More Ways to Pay With Passport

Fintech News Desk
1