Wells Fargo & Company has launched a new online bill pay feature, which allows customers to make ‘just in time’ online bill payments to merchants, such as utility, auto finance and mortgage companies. It is available in the US.
According to Javelin Strategy & Research, nearly three out of four consumers initiated expedited payments last year and use is expected to continue to rise in the next five years.
“The launch of same day payments further highlights Wells Fargo’s commitment to listening to our customers and continued leadership and innovation in the online space,” said Adam Vancini, senior vice president of Wells Fargo Internet Services Group. “Our customers continue to discover the convenience and speed of paying bills electronically; the expedited payments service is an additional online bill pay option.”
Currently Wells Fargo offers same day payment options for a fee with a select group of payees; additional payees continue to be added on an ongoing basis. Wells Fargo teamed up with Western Union for the service.
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