TD Bank signs for CheckFree RXP

Source: Fiserv

Fiserv (NASDAQ: FISV), a leading global provider of financial services technology solutions, announced today that TD Bank, America's Most Convenient Bank and one of the 10 largest banks in the U.S., has selected CheckFree RXP from Fiserv to enable electronic bill payment for consumer and small business customers.

CheckFree RXP will provide TD Bank customers with more control over their bill payment tasks and will enable them to receive e-bills from more than 400 national and local companies directly within their online banking service.

Continually advancing the digital channel capabilities customers want is an integral part of the TD Bank commitment to be America's Most Convenient Bank. With CheckFree RXP, TD Bank customers will have access to the industry leading Fiserv electronic billing and payment network, which enables next business day delivery of most payments. These user-focused capabilities, as well as integration into the bank's existing online banking service, were key factors in the bank's selection of CheckFree RXP.

"CheckFree RXP will bring in-demand payment options to TD Bank customers, giving them control of how and when their bills are paid," said Rahul Gupta, group president, Digital Payment Solutions, Fiserv. "The integration of the service into the bank's existing online banking solution will make bill payment even more convenient and accessible for users."

CheckFree RXP enables bill payment for tens of millions of consumers and is offered by 3,800 financial institutions, a number that increases each month. The service combines practical features, such as expedited and recurring payment capabilities and the ability to receive alerts, with an intuitive user interface to make it easy for consumers and businesses to maintain control over their bill payment activities. The majority of payments scheduled through the service can be delivered electronically the next business day, which adds flexible payment options for consumers and improves operational efficiency for financial institutions and billers. Users can also receive and pay e-bills, which contain all the same information as paper bills, from more than 400 common household billers such as utilities, credit card issuers and mobile phone carriers, through the service.

CheckFree RXP is routinely updated by Fiserv via centrally deployed "Feature Packs", ensuring that TD Bank and their customers will have ongoing access to the most up-to-date payment capabilities.

In conjunction with CheckFree RXP the bank will implement FraudNet(TM) from Fiserv, an automated fraud detection system, to mitigate the risk of fraudulent transactions. The selection of CheckFree RXP represents an expansion of the more than 15 year relationship between Fiserv and TD Bank. In addition to online banking, the bank utilizes multiple Fiserv solutions including ACH processing, loan servicing, credit processing and cash forecasting. 

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