First Data Corporation is to offer card issuers the ability to tear up paper statements in favour of an online bill presentment and payment option.
E-statements will be presented via a First Data-hosted or existing Web site and allow the issuer to use marketing banner ads to enhance their branding and cross-selling efforts, says the company.
In addition, the service allows issuers to offer multiple payment options, including online transactions through their existing Web site, payments using the Western Union MoneyZap service, or walk-in cash payments at any of over 40,000 Western Union agent locations in the United States.
Issuers can also use various e-mail notification options for communicating with consumers, and will be able to allow consumers to make online account requests and updates.
Eula Adams, senior executive vice president for First Data and head of worldwide card operations, claims: "Statementlook will play a critical role in helping issuers provide additional convenience to their consumers while lowering costs, improving customer satisfaction, and increasing profitability."
The service will be rolled out in April 2002.