TD Bank will use Fiserv's (FISV) CheckFree RXP for electronic bill payment for consumer and small business customers.
CheckFree RXP will allow TD Bank customers to receive e-bills from more than 400 national and local companies directly within their online banking service, Fiserv, based on Brookfield, Wis., said Monday. Customers will also have access to Fiserv's electronic billing and payment network, which enables next business day delivery of most payments.
TD Bank, a unit of Toronto-Dominion Bank (TD), will also implement Fiserv's FraudNet, an automated fraud detection system, to mitigate the risk of fraudulent transactions.
CheckFree RXP is currently offered by roughly 3,800 financial institutions. TD Bank has worked with Fiserv for more than 15 years and uses multiple Fiserv offerings including ACH processing, loan servicing, credit processing and cash forecasting.
