Visa to pilot request to pay bill management platform in UK
Visa is to use its request to pay platform to pilot a consolidated bill payment and subscription management service for UK consumers.
Acting as a consolidated inbox itemising regular bill payments, Visa’s new platform provides a transparent view across all of a user’s upcoming and recurring payments to different billers. It starts with the biller sending a request for payment to the consumer, who can agree to pay in part or in full at a time of their choosing.
Alternatively, they can query the payment, request an extension, organise a payment plan, or decline the payment through the communication function.
In addition, the platform has scope to support payments through several means including via debit and credit cards, or account-to-account.
Pilot partner Revive Management offers a cloud-based communications platform that is used by businesses providing services to more than 70% of the UK population. Revive Management’s participation in the pilot should see a number of its utility partners offering their customers the ability to make bill payments through Visa’s request to pay service from March 2022.
Mark Nelsen, SVP, product, Europe, Visa, comments: “Most people have a long list of regular payments to keep on top of – from gas, electricity or water bills, to mobile phones, streaming services and recurring deliveries. At the same time, a growing number of subscription services are gaining in popularity. Our new request to pay service consolidates these bills into one, easy-to-use platform, allowing consumers to pay in a way that suits them. Gone are the days of needing to manage multiple payments to different billers across separate accounts and logins.
“What’s more, the platform gives customers the confidence that the bills they receive are legitimate, and in doing so plays a key role in reducing the risk of becoming a victim of fraud.”