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Mastercard Incorporated (MA) - free report >>
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Allstate (ALL) Introduces Instant Claims Payment Service
The Allstate Corporation (ALL - Free Report) recently introduced its instant claims pay method, QuickCard Pay. The first-of-its-kind payment method is the fastest in the Allstate ExpressPay network and the company will now require only a debit card and an e-mail address to pay claims. With the launch of QuickCard Pay, Allstate has become the first U.S. Property & Casualty insurer to use such an instant method.
The company has strategically partnered with MasterCard Inc. (MA - Free Report) to utilize MasterCard Send Platform. The alliance is expected to make the delivery of funds quicker and more secure. This platform connects businesses, merchants, governments, non-profits, issuers and other senders and facilitates money transfer to consumers and small businesses with assured convenience, choice and security.
MasterCard Send Platform will enable Allstate claimants to send or receive money through the quickest means possible during any emergency. QuickCard Pay is currently the only payment service that can access all U.S. debit card. Non-Mastercard debit cardholders, such as consumers of Visa Inc (V - Free Report) , and American Express Company (AXP - Free Report) to name a few, are also eligible for this service.
We appreciate the company’s commitment and focus to innovate in keeping with its customers’ expectations. Previously, Allstate had launched fast Mobile e-Payment to ensure same-day payment with just an email address or mobile phone number. The company also remains updated in terms of digitization to better serve its claimants. Hence, we expect QuickCard Pay to further cement customers’ faith on the company and add to its goodwill.
Allstate presently carries Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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