Q2, a Texas-based digital banking solution provider, announced on Tuesday the launch of its new card-enabled payment solution, Biller Direct. The company reported that the payment solution designed to consolidate and present direct biller relationships and provide a new revenue model for financial services providers.
According to Q2, Biller Direct provides a centralized payment environment where users can enroll, manage their bills and view projected spend. By enabling card payments, the platform gives users expedited payment options while generating valuable interchange revenue for card-issuing institutions that offer the service. Paul Walker, General Manager of the Q2 Open group, stated:
“Users are increasingly paying their bills directly through their billers’ websites, which is a challenge for FIs looking to keep their cards top-of-wallet. By creating a next-generation, card-centric payment model, Biller Direct centralizes and enriches the overall financial experience and, ultimately, turns bill pay from a cost center into a revenue source.”
Q2 also revealed that Biller Direct is available as a turnkey, white-label solution, or via its API, which allows any company to build or integrate card payment capabilities into their applications. Q2 added that Biller Direct was demoed at FinovateSpring in Santa Clara, California.