Major payment company master card introduced Bill QKRa digital solution aimed at simplifying recurring and bulk bill payments for consumers and businesses.
Bill Qkr provides a secure card-based system designed to make payments easy for merchants, acquirers, payment intermediaries, and service providers through flexible options and a streamlined collections process.
Early adopters of the service include 2C2P, AXS, CardUp, Curacel, and FitBank, and are spread across Asia Pacific, Africa, and Latin America.
Despite the global shift to digital payments, 89% of people already pay their bills digitally or are planning to do so, but card payment options remain limited. Many people still face a troubling experience, whether it’s due to security concerns or security concerns.
Bill Qkr addresses these issues with Mastercard’s tokenization technology. This technology securely stores your card details for recurring payments and enables quick QR code-enabled payments for variable bills.
The service also improves guest checkout with Click to Pay, increasing the ease of online transactions while increasing approval rates.
Bill Qkr’s launch partners are incorporating this technology to offer smoother payment options in their regions.
In Southeast Asia, 2C2P’s easyBills+ platform makes it easy to pay utility bills, taxes, and more.
Singapore’s AXS will add automatic recurring payments through its app, while Fundraising Association subsidiary CardUp will support non-carded expenses such as rent, education fees and taxes in Singapore, Malaysia and Hong Kong. .
Africa’s Curacel uses Bill Qkr to support digital payments across its insurance platform, and Brazil’s FitBank expands secure payment options across Latin America.
The launch is part of Mastercard’s broader efforts to advance digital payments around the world, providing Bill Qkr users with access to Mastercard’s network and support for product development and implementation.
Mastercard Bill Qkr is now live and available worldwide.
“Mastercard Bill Qkr combines our cutting-edge payment technology with our long-standing global collaborative approach.
This not only allows us to revolutionize bill payment for our customers, but also creates better ways of doing business and strengthens trust in the broader ecosystem. ”
Jennifer Marriner, Mastercard’s executive vice president of global acceptance, said:
“Mastercard is an important partner in transforming the bill payment experience for our customers, including business owners and individuals.
This partnership will enhance the consumer payments experience, improve biller collections, and allow customers to more easily and securely manage their recurring bill payments. ”
Wong Kah Meng, Group Chief Operating Officer of Funding Society, said:
Featured image credit: Edited from freepic
