Under the agreement, TD Bank is set to use Fiserv’s CheckFree RXP payment suite to enable its customers to receive and pay bills online as well as transfer funds and make expedited payments at their financial institution website.
In addition, TD Bank will also implement FraudNet from Fiserv, an automated fraud detection system, to mitigate the risk of fraudulent transactions.
In June 2012, Fiserv has launched a new service dubbed E-bill Introduction as part of its CheckFree RXP payment suite. With the E-bill Introduction service consumers can receive electronic bills (e-bills) via their online banking service for an introductory period of 90 days during which they also continue to receive paper bills in the mail. Following the trial period consumers can opt to continue receiving e-bills and turn off their paper bill or the e-bill will be discontinued and the consumer will continue to receive paper bills.
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