Western Union has teamed with VeriSgn to pilot a system that enables Consumer Portfolio Services (CPS) customers to trigger their monthly car payments directly from their mobile phones.
The three month pilot will allow CPS customers to initiate payments via text message, based on debit or credit card information entered online.
Participants sign up for the Western Union bill alert text message service online or over the phone and provide their CPS account details, phone number and debit account information.
Once enrolled, they receive monthly alerts through VeriSign, detailing the payment amount due. To approve the payment, the customer sends a text message, initiating a Western Union transaction which is credited to their CPS account.
David Shapiro,SVP, Western Union Payment Services, says: "The on-the-go consumer is looking for convenient ways to manage the business of living so it seems only natural to marry the necessity of paying bills to the convenience of texting via cell phone."
Chris Terry, SVP, servicing, CPS, adds: "Instead of having to call an IVR, find a computer or navigate through their phone's web browser, consumers can simply initiate a payment directly from the reminder text they receive each month from CPS. Because the consumer has already signed up for the programme, there is no need to provide sensitive financial information via text."