BURLINGTON, Mass., March 08, 2022 (GLOBE NEWSWIRE) -- Aliaswire, a provider of bill payment and credit solutions for businesses and banks, today announced record 2021 results, doubling its total revenue and headcount for the year. The company’s growth was fueled by its DirectBiller digital bill pay platform, which equips banks to offer their commercial clients a modern, custom-branded billing and payment experience to their customers.
For the 12 months ending Dec. 31, 2021, Aliaswire saw a 400% increase in the number of payments made on DirectBiller and a 70% increase in the total dollar value of payments processed vs. the same period in 2020. The biggest drivers of these increases were from major utilities, insurance companies and the public sector. Aliaswire currently supports over 800 businesses on the platform and an annual processing run rate of nearly $6 billion.
DirectBiller is a software-as-a-service (SaaS) platform that manages the end-to-end process from invoicing through payment reconciliation and integrates with banks’ treasury management systems and their clients’ ERP systems. Businesses can send digital bills, accept digital payments, and receive funds the next business day. Their customers can make automated, scheduled, or one-time payments by computer, voice, or mobile device, including text to pay. Both banks and their clients are supported by a dedicated support team.
“Both businesses and consumers are looking for more convenient and secure ways to pay their bills,” said Jed Rice, CEO of Aliaswire. “Banks are well positioned to help their commercial clients deliver on that need. DirectBiller gives banks the ability to offer the latest digital bill payment capabilities, while also generating profitable new fee revenue and creating stickier relationships. It’s a huge opportunity.”
Aliaswire is carrying its strong momentum into 2022:
- Last month, Aliaswire announced integration of DirectBiller with Mastercard Bill Pay Exchange. Billers using the DirectBiller platform can now offer an enhanced billing and payment experience to consumers who prefer to pay bills through their financial institution’s bill pay service or through a bill pay aggregator.
- In February, Aliaswire also announced the addition of a new bank account validation (BAV) solution for banks and their commercial clients. The availability of the solution comes in advance of the pending enforcement of a new web debit rule which requires ACH originators to make account validation an explicit part of their fraud detection efforts.
- In January, Aliaswire made its DirectBiller platform available to businesses in Canada in both English and French-Canadian language. DirectBiller is certified by Moneris Canada to support credit card payments in the country.
- In December 2021, Aliaswire was the first business service provider to deploy Citi’s new Request for Pay and Citi Verify services, part of Citi’s Present and Pay real-time payment capability.
About Aliaswire, Inc.
Aliaswire is a fintech company based in Boston with a history of innovation in payments. The company supports leading financial institutions and merchant services providers with bill pay through DirectBiller® and small business credit solutions through PayVus®. For more information, visit https://www.aliaswire.com/.
