Autobooks has expanded its connected banking solution by introducing a "pay by card" feature for all bill pay clients. Developed in partnership with Global Payments, this enhancement allows consumers and small businesses to settle any bill using a credit card, even if the biller does not directly accept card payments. This update is delivered as a standard feature to existing banking and credit union partners.
Autobooks and Global Payments Expand Bill Pay Capabilities
Through a new partnership with Global Payments, Autobooks has officially become a Business Payment Service Provider (BPSP). This strategic move enables bill pay customers to select between paying via a bank account or a credit card within a single, unified experience. The capability is being rolled out across the entire Autobooks bill pay financial institution base. Notably, banks and credit unions currently utilizing Autobooks bill pay receive this functionality as a standard product enhancement. No platform migration or technical upgrades are required for institutions to implement this feature. This expansion moves the existing partnership between the two companies from focusing on receivables to including payables, providing a more comprehensive suite of financial tools for small businesses and individual consumers.
Strategic Integration for Financial Institutions
For banks and credit unions, this advancement integrates card-funded payments into their existing digital banking ecosystems. By offering card-based bill payments, financial institutions can differentiate their digital offerings while potentially generating additional card issuer income. The rollout follows a series of product additions, including payables in 2025 and lending in 2026, which build upon Autobooks' established receivables and accounting lines. These services are accessible through direct integration or via pre-built connections with major digital banking platforms. According to Autobooks CEO Steve Robert, the goal is to help financial institutions remain central to how customers manage and move money. This allows institutions to provide modern payment flexibility without the complexity of managing separate vendor relationships or undergoing significant infrastructure changes.
Key Takeaways
- Autobooks now allows users to pay any bill via credit card, even for billers that do not accept cards.
- The feature is a standard enhancement for all Autobooks bill pay clients, requiring no platform migration.
- Autobooks has transitioned into a Business Payment Service Provider (BPSP) through its partnership with Global Payments.
FinanceInsyte's Take
In our view, this move is a calculated effort to deepen the "connected banking" moat for community banks and credit unions. By enabling card-funded bill pay without requiring a platform overhaul, Autobooks is lowering the barrier to entry for institutions to compete with larger fintechs. This signals a shift toward integrated payables that prioritizes ease of deployment. For financial institutions, the ability to capture card issuer income while maintaining the primary customer relationship is a significant strategic advantage in a fragmented payments landscape.
Source: https://www.prweb.com/
