Payments firm Deluxe has launched a digital bill payment partnership with FinTech Aliaswire.
The collaboration, announced Thursday (Sept. 28), adds Aliaswire’s DirectBiller bill payment technology to Deluxe’s network of banks, partners and direct clients.
“Our goal is to facilitate our clients’ transition to digital payment offerings,” Michael Reed, division president of B2B payments at Deluxe, said in a news release.
“Deluxe has been providing digital payment solutions to our customers for some time, and now, in partnership with Aliaswire, we aim to extend our reach.”
The release adds that the partnership recognizes that each client has unique payment preferences, and aims to enhance digital processing solutions, letting businesses send bills, accept payments and access funds in accordance with those preferences.
“We’re excited to partner with Deluxe as more banks look to actively incorporate online bill pay into their integrated receivables offerings to generate reliable revenue and build stickier client relationships in an unstable environment,” Aliaswire CEO Jed Rice said in the release.
Banks are looking for online bill pay options at the same time consumers are demanding that service, according to “Holistic Bill Pay Wins Over Users — but Holdouts Remain,” a PYMNTS Intelligence and Paymentus report.
It explored consumer and executive experiences and views of the bill payment process and payment portals, and found that 52% of consumers ran into frustrations when paying their bills, dealing with things like complicated payment processes as well as technical glitches and delays.
“The study also revealed a correlation between bill pay frustrations and consumer interest in switching to a new provider,” PYMNTS wrote last week.
“Among consumers who did not experience any bill pay frustrations, only 27% expressed a high likelihood of switching to an inclusive billing platform. However, this percentage increased as the number of billing frictions escalated.”
Deluxe’s partnership with Aliaswire follows the company’s May collaboration with Echo Health, designed to offer digital payments services to companies using paper with the launch of DPX Payments, a joint venture aimed at offering “advanced payables offerings to the large and underserved middle-market.”
DPX, the companies said in a news release, is designed for businesses that send payments to vendors and suppliers using paper, coming at a time when the U.S. appears to be increasingly shifting to electronic invoicing.
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