Payments giant Mastercard has introduced Bill Qkr, a digital solution aimed at simplifying recurring and one-time bill payments for consumers and businesses.
Bill Qkr offers a secure, card-based system designed to make payments easier for merchants, acquirers, payment facilitators, and service providers through flexible options and streamlined collection processes.
Initial adopters of the service include 2C2P, AXS, CardUp, Curacel, and FitBank, extending across Asia Pacific, Africa, and Latin America.
Despite a global shift towards digital payments—where 89% of people either already pay or plan to pay bills digitally—many still face a cumbersome experience, with limited card payment options and security concerns.
Bill Qkr addresses these issues with Mastercard’s tokenization technology, which securely stores card details for recurring payments and allows for quick QR-code-enabled payments for variable bills.
The service also improves guest checkout through Click to Pay, enhancing the ease of online transactions while increasing approval rates.
Bill Qkr’s launch partners are incorporating the technology to provide smoother payment options in their regions.
In Southeast Asia, 2C2P’s easyBills+ platform will facilitate payments for utilities, taxes, and more.
AXS in Singapore will add automated recurring payments through its app, while CardUp, a Funding Societies subsidiary, will support uncarded expenses like rent, education, and taxes in Singapore, Malaysia, and Hong Kong.
Curacel in Africa will use Bill Qkr to support digital payments across its insurance platform, while Brazil’s FitBank expands secure payment options throughout Latin America.
This launch is part of Mastercard’s broader push to advance digital payments worldwide, offering Bill Qkr users access to Mastercard’s network and support for product development and implementation.
Mastercard Bill Qkr is now live and available globally.
“With Mastercard Bill Qkr, we’re bringing our cutting-edge payment technologies together with our longstanding, global approach to collaboration.
This allows us to not only innovate in bill payments for our customers, but also to create better ways to transact and strengthen trust for the wider ecosystem.”
said Jennifer Marriner, Executive Vice President, Global Acceptance at Mastercard.
“Mastercard has been a key partner in transforming the bill payment experience for our customers – business owners and individuals.
This collaboration will allow us to enhance the payment experience for consumers and improve collections for our billers, making it easier and safer for our customers to manage recurring bill payments.”
said Wong Kah Meng, Group Chief Operating Officer, Funding Societies.
Featured image credit: Edited from Freepik