GLASTONBURY, Conn.--(BUSINESS WIRE)--Payrailz, a digital payments company offering smarter more engaging and secure bill payment and money transfer experiences to banks and credit unions, announced a partnership with Billshark, the industry-leading bill reduction service.
Through this partnership, Payrailz’s payment technology will leverage Billshark’s platform to provide bill negotiation, subscription cancellation and curated shopping services enabling banks and credit unions a powerful means to reduce monthly bills for consumers and small businesses.
According to Billshark, approximately 80 percent of consumers are being overcharged for their wireless, internet, home security and telecommunications services, while over 90 percent of consumers pay monthly fees for unwanted subscription services. Through this partnership with Billshark, Payrailz offers financial institutions the ability to add value to their customers and members by reducing their monthly bills, while transforming the entire payment and money transfer process.
Payrailz was founded to meet the growing demand to rethink and automate the payments process in the industry today. This includes a focus on helping financial institutions to add value continually to the overall payments experience. Partnering with Billshark further delivers on this promise.
Through negotiations and cancellations, Billshark helps consumers pay less for recurring bills including wireless phone services, internet, paid TV subscriptions and home security. Billshark has an average success rate of 85 percent when negotiating bills and a 99 percent success rate when cancelling unwanted subscriptions on behalf of consumers.
“Payrailz is engineering solutions to address the needs of an emerging ‘Do it for me’ culture by reinventing the payments experience. Our relationship with Billshark does this and is designed to help financial institutions increase their value to consumers in a unique way,” said Fran Duggan, CEO of Payrailz. “We are continually searching for new ways to add value and reduce friction in the payment experience for consumers. By building bill negotiation into the payment process, banks and credit unions have yet another tool at their disposal to improve their user experience, all while reinforcing their reputations as trusted financial partners.”
“Billshark is excited to partner with Payrailz to bring our convenient, no-hassle approach to lowering monthly bills to their growing network of bank and credit union clients. Our team of expert negotiators will make sure consumers never overpay again,” said Steve McKean, co-founder of Billshark. “We look forward to helping Payrailz deliver on their vision of reinventing the way the banking and financial services industry approaches the payment experience.”
About Billshark
Billshark is an industry-leading bill reduction service that empowers consumers and businesses to save time and money by leveling the playing field with service providers. Through negotiations and cancellations, Billshark helps consumers pay less for recurring bills such as wireless, internet, TV and home security. Billshark has saved consumers more than $10 million since its 2015 launch and completed nearly 60,000 negotiations. For more information, visit www.billshark.com or contact Media Contact: Victoria Assa at vassa@thinkshopmarketing.com.
About Payrailz
Payrailz is a digital payments company offering advanced bill payment and money transfer solutions to banks and credit unions. In a society that increasingly has become focused on a “do it for me” culture, Payrailz’s smart technology makes the difference. Payrailz creates smarter payment experiences for the financial services industry that are predictive and more engaging than currently available alternatives. Financial institutions can confidently embrace Payrailz’s cloud based technology engine, including AI, dynamic workflow, open data exchange, and a robust SDK to offer unique payment solutions to their customers. Payrailz helps financial institutions meet the payment expectations of today and the payment innovation needs of tomorrow. For more information, visit www.payrailz.com, follow them on Twitter @Payrailz, Facebook or LinkedIn, or contact Mickey Goldwasser at 860.430.9245.
