Recently, Fiserv Inc (FISV) launched E-bill Introduction, a new feature within the company’s widely used CheckFreeRXP payment suite.
CheckFree RXP is the company’s principal electronic bill payment product, which enables users to pay and manage their bills in an organized manner.
E-bill Introduction enables users to receive electronic bills through their online banking service for an introductory period during which they also continue to receive paper bills in mail.
In order to drive increased adoption of e-bill, Fiserv is now tapping into tryvertising trend. Tryvertising enables consumers to try a new product or service before committing to purchase or use it.
E-Bill Introduction provides a 90-day introductory period to consumers, whereby they can experience receiving e-bills at their financial institution firsthand after having paid their bills electronically.
During this 90-day introductory period, the consumer receives an e-bill through online banking simultaneously with a traditional paper bill in the mail. Following the trial period, users will have the option to decide whether they want to receive e-bills and turn off their paper bill or else the e-bill will be discontinued and the consumer will continue to receive paper bills.
Fiserv believes that the consumers will continue to shift their financial transactions from traditional, paper-based methods to electronic methods if they have easy-to-access, easy-to-use, secure and cost-effective methods of receiving and paying their bills electronically.
Earlier, Fiserv launched its Central Source Capture solution. Using this platform, banks and other financial institutions will be able to take images along with easing out and modernizing their general check processing system.
This advanced Central Source Capture developed by Fiserv not only caters to ameliorating the basic check processing functions, such as clearing, electronic cash lettering, capture etc. but also integrates pervasively with core account processing, capture applications and end-to-end image transfer solutions. Such features make the entire system easier to operate while reducing additional expenses for the company.
We currently have a Neutral recommendation on Fiserv. In the short run, we have a Zacks #3 Rank on the stock, which translates into a short-term rating of ‘Hold’.
FISERV INC (FISV): Free Stock Analysis Report
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