Business process solutions company Conduent has launched its new digital integrated payments hub, offering businesses and public sector agencies a centralized platform consolidating different payment processes and systems.
With this new platform, users can access options to send, request or receive payments in ways that are secure, faster and cost effective, Conduent said Tuesday (Nov. 22) in a press release.
“Conduent’s Digital Integrated Payments Hub becomes a natural, technical integrator to our existing suite of services at a time when many commercial and public sector clients are focused on gaining efficiencies and improving the customer experience,” Conduent Global Head of Strategy & Corporate Development Rob Houser said in the release.
The platform integrates BNY Mellon’s infrastructure to speed up refunds, rebates and overpayment remediations while also providing the ability to track transactions, according to the press release.
The use cases for the hub include handling tolling, parking and transit fees for transportation authorities; speeding the validation process for government agencies prior to providing benefits, and enabling nearly paperless accounts payable (AP) processes for companies and government agencies, the release said.
“We know that consumers increasingly prefer the convenience, immediacy and security of established digital payment services,” Houser said. “By adding BNY Mellon as our payments infrastructure provider, we can now offer clients across the government, commercial and transportation segments new payment options that reduce costs, mitigate fraud and provide timely benefits.”
PYMNTS research has found that 170 million U.S. consumers received at least one disbursement in the past year. Those disbursements span Social Security payments, insurance claim payments and other transactions.
In addition, faster payments — instant payments, to be specific — are becoming top of mind for many consumers, according to the “Disbursements Satisfaction Report 2022,” a PYMNTS and Ingo Money collaboration.