Mastercard has introduced Bill Qkr, a comprehensive solution designed to streamline bill payments for consumers and businesses globally. As 89% of people turn to digital tools to manage expenses, Bill Qkr aims to address key obstacles such as limited card payment options, security concerns, and complex user experiences.
Key Features of Mastercard Bill Qkr
Mastercard Bill Qkr integrates advanced technology to support merchants, acquirers, and service providers (PSPs) in expanding their markets. The solution’s features include:
- Tokenization: Ensures secure card storage, facilitating seamless recurring payments for merchants.
- Automatic Invoice Submission: Allows for consistent billing for services such as insurance, providing efficiency for fixed and variable payments.
- QR Code Payments: Enables users to scan a code on their bills for quick payment using stored credentials.
- Click to Pay for Guest Checkout: Simplifies online transactions, creating a faster, secure checkout process.
Additionally, Mastercard offers access to its partner network for product development, design, and early-stage product testing.
Initial Global Partnerships
Mastercard has partnered with companies in Africa, Asia Pacific, and Latin America to implement Bill Qkr:
- 2C2P: Will introduce recurring Mastercard payments in Thailand on the easyBills+ app for digital services and utility payments.
- AXS: Singapore’s bill payment aggregator will support automated recurring payments within its mobile app.
- CardUp: Operating in Singapore, Malaysia, and Hong Kong, CardUp will leverage Mastercard’s technology to enhance payments for uncarded sectors such as rent and education.
- Curacel: The African insurance platform will integrate Mastercard’s digital payment solutions, expanding its reach in 10 markets.
- FitBank: Based in Brazil, FitBank serves over 12,000 billers, now providing secure digital payments via global chat platforms.
Expanding Card-Based Payment Options for Bills
Mastercard’s Jennifer Marriner, EVP of Global Acceptance, emphasized, “With Mastercard Bill Qkr, we’re creating better ways to transact and strengthen trust across the ecosystem.”
To learn more, visit Mastercard’s Bill Qkr page.