MONETT, Mo., Oct. 13, 2016 /PRNewswire/ -- Jack Henry & Associates, Inc. (NASDAQ: JKHY) is a leading provider of technology solutions and payment processing services primarily for the financial services industry. Its JHA Payment Solutions™ group today announced the availability of JHA EPS SmartPay Biller Direct℠, an electronic bill, invoice and payment solution.
Industry studies report that over half of all bills are paid directly through a biller site. In order to provide comprehensive solutions to commercial clients, financial institutions must provide billers with support for the critical billing and collection cycle. SmartPay Biller Direct enables a financial institution's business customers to present cost-effective electronic bills and invoices, collect payments through a variety of secure channels, and streamline the accounts receivables process. This new service is part of Jack Henry & Associates' Enterprise Payment Solutions™ (EPS) SmartPay suite, a complete commercial payment platform that equips business clients to collect funds across a broad array of channels.
SmartPay Biller Direct allows customers to pay bills using checking and savings accounts, credit/debit cards, PayPal and even digitized cash through Jack Henry & Associates' partnership with PayNearMe. Billers, such as utilities, municipalities, property management companies and financial services providers, will be able to accept payments through a variety of channels, including online, through a mobile device, with a customer service representative or through web services integration.
Enabling billers to open electronic bill presentment and payment channels supports their customers' growing demand for more flexible, convenient and expedited methods to access and pay bills. SmartPay Biller Direct provides both financial institutions and their business customers with a robust array of payment processing options, risk management tools and reporting capabilities. The solution is Statements on Standards for Attestation Engagements (SSAE) 16 certified and runs in a Payment Card Industry (PCI) Level 1 compliant environment, offering businesses and their customer's security standards they can trust.
Greg Adelson, general manager of the JHA Payment Solutions group, added, "Financial institutions need to partner with their business clients to help them collect payments over as many of the evolving payments channels as possible. SmartPay Biller Direct offers an opportunity to provide business customers with complete control of their bill presentment and payment process. This fills a gap in financial institutions' payment platforms, empowering a stronger strategy to attract and retain profitable commercial customers."
SmartPay Biller Direct's self-service administrative portal allows unique branding with presentment and payment options that can be customized down to the business location level. Creating multiple channels for payment and presentment can help businesses and organizations enhance their online revenue stream while also strengthening customer relationships.
About Jack Henry & Associates, Inc.
Jack Henry & Associates, Inc.® (NASDAQ: JKHY) is a leading provider of technology solutions and payment processing services primarily for the financial services industry. Its solutions serve approximately 10,500 customers nationwide, and are marketed and supported through three primary brands. Jack Henry Banking® supports banks ranging from community banks to multi-billion dollar institutions with information processing solutions. Symitar® is a leading provider of information processing solutions for credit unions of all sizes. ProfitStars® provides highly specialized products and services that enable financial institutions of every asset size and charter, and diverse corporate entities to mitigate and control risks, optimize revenue and growth opportunities, and contain costs. Additional information is available at www.jackhenry.com.
Statements made in this news release that are not historical facts are forward-looking information. Actual results may differ materially from those projected in any forward-looking information. Specifically, there are a number of important factors that could cause actual results to differ materially from those anticipated by any forward-looking information. Additional information on these and other factors, which could affect the Company's financial results, are included in its Securities and Exchange Commission (SEC) filings on Form 10-K, and potential investors should review these statements. Finally, there may be other factors not mentioned above or included in the Company's SEC filings that may cause actual results to differ materially from any forward-looking information.
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SOURCE Jack Henry & Associates, Inc.