Mastercard and Dream Payments Launch Claims Payment API
Earlier this year, Mastercard and Dream Payments, a provider of cloud payments solutions, announced a global partnership aimed at getting insurance customers paid quickly, simply and securely. Now, the two companies are announcing the launch of the Dream Claims Payment API, a “first of its kind exclusively for the insurance industry” solution, allowing companies to easily connect to the Dream Payments Hub and the Mastercard Send platform to pay claims digitally into the bank accounts and debit cards of their customers.
With just a few simple lines of code, insurers can streamline the process and add immediate, digital payments to their claims systems. Travel Insured International, a Glastonbury, CT-based travel insurance provider, will be the first in the US to deploy real-time disbursements to their customer base using the Dream Claims Payments API. “Our focus is to consistently take our customer experience journey to the next level, and continuously work to provide innovative solutions to anticipate and fulfill our customers’ ever-growing needs. In the age of instant gratification, partnering with Dream Payments is allowing us to provide real time satisfaction while building trust and loyalty with our customers.” – CEO of Travel Insured, Jon Gehris.
“At Mastercard, we understand that developing products and services that companies can easily adopt will ultimately best serve consumers. Through our partnership with Dream Payments, we’re reimagining how insurers can attract and retain consumers by optimizing systems and getting claim payments to people when they need them most, in near-realtime and digitally.” – SVP, Global Acceptance at Mastercard, Zahir Khoja.
“Our API allows insurers to rapidly integrate digital claims payments into their claims systems and processes to deliver an exceptional experience for both end customers and internal claims personnel. Through one API and the Dream Payments Hub, insurers of all sizes can now benefit from the speed and efficiency of digital claims payments and eliminate the friction associated with printing, sorting, mailing and tracking of checks.” – CTO of Dream Payments, Long Van.
