Wausau Financial Systems, the industry leader in distributed payment processing and receivables processing solutions, and ClairMail, the leader in 2-way mobile phone-based customer interaction, today announced an agreement which will extend the mobile channel to WAUSAU's remittance processing solutions.
By integrating ClairMail's Mobile Lockbox technology with its remittance processing managed service, WAUSAU will empower its customers to include payments via mobile phones as part of their receivables processing offering to their clients.
With ClairMail's Mobile Lockbox technology, a 2-way alert message is sent to the payer's mobile phone with bill payment details such as payee name, dollar amount and due date. Payers reply to the message to instantly pay the bill from their mobile phone -- dramatically improving payer convenience and speeding payments which results in cash on hand as much as 21 days earlier -- a significant financial benefit to all of the participants in the lockbox value chain.
"ClairMail has developed the most innovative yet simple and user-friendly solutions in mobile payments, including Mobile Lockbox," said Kathy Strasser, Senior Vice President - Remittance and Enterprise Content Management Solutions for WAUSAU Financial Systems. "By partnering with ClairMail, WAUSAU is further enhancing value for our customers by offering an easily-integrated mobile solution to our industry-leading suite of remittance products. WAUSAU and ClairMail have an opportunity to combine mobile alert, user action on the alert and bill payment facilitation through ImageRPS remittance software. This combination is unique in the industry and leverages the existing ACH Clearing, Host Emulation and ACH Returns functionality within ImageRPS."
"WAUSAU's remittance processing solutions combine technology, knowledge and experience," said Joseph Salesky, CEO of ClairMail. "ClairMail's Mobile Lockbox reinforces WAUSAU's reputation for providing their customers with flexible and scalable solutions that grow revenue, drive efficiencies and increase customer satisfaction."
WAUSAU's ImageRPS solution offers the most comprehensive receivable solution that is flexible and scalable for our customers. WAUSAU's U.S. marketshare volume exceeds 40% with over three billion annual payments processed on the ImageRPS application in varying industries from corporate and financial services companies to financial institutions and third-party lockboxes. In addition, WAUSAU is the leader in electronic clearing technology for receivables processing. ImageRPS Accounts Receivable Conversion (ARC) module has annually generated more than 30% of all U.S. ARC transactions.
ClairMail is the first and only mobile banking and payments solution that works on all mobile phones and supports all three mobile user interface types -- messaging, mobile web and client applications -- known as the "triple play." On one platform with a single implementation, the ClairMail System seamlessly and securely integrates with a financial institution's systems of record and provides financial institution customers with a comprehensive suite of customizable, real-time 2-way mobile banking and payment services powered by ClairMail's innovative Event Engine.