Allstate (ALL), Mastercard (MA) Team on New Payment System

October 21, 2016 2:02 PM EDT

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A debit card and e-mail address is all that's needed now for Allstate to pay claims in an instant. QuickCard Pay is the latest and fastest payment method in the Allstate ExpressPay network. Working with Mastercard to leverage its Mastercard Send platform, Allstate becomes the first U.S. Property & Casualty company to use the first-of-its-kind service.

"Allstate continues to innovate on behalf of our customers and claimants," says Chief Claims Officer Glenn Shapiro. "QuickCard Pay gives claimants an immediate and secure payment method and helps us deliver on our promise of a fast, fair and compassionate claims experience."

Allstate QuickCard Pay is the only payments service of its kind in the P&C industry that reaches virtually all U.S. debit card accounts – including non-Mastercard debit cards. QuickCard Pay is faster than any existing solution and provides real-time payment to claimants anytime, anywhere in the United States.

"It is very important to people to get the quickest access to the funds you need when an emergency occurs—whether that be with your home, your car or your business," said Matt Barr, senior vice president, Digital Payments and Labs, Mastercard. "We built Mastercard Send so partners like Allstate can provide claimants with the quickest means of receiving their payment on a claim. By using QuickCard Pay, Allstate claimants will now have nearly instant access to these funds sent to almost any bank account through a U.S. debit card."

QuickCard Pay is now the fastest claims payment method in the P&C industry, eclipsing Allstate's previous industry-leading service, Fast Mobile e-Payment, which produced same-day payment with just an email address or mobile phone number.

Mastercard Send is a payments service that facilitates the delivery of funds quickly and securely. Through a single connection to the Mastercard Send platform, businesses, merchants, governments, non-profits, issuers and other senders can send money to consumers and small businesses. By digitizing personal payments that are typically handled via cash or check, Mastercard provides greater convenience, choice and security to both payment senders and receivers.

The Allstate Corporation (NYSE: ALL) is the nation's largest publicly held personal lines insurer, protecting approximately 16 million households from life's uncertainties through auto, home, life and other insurance offered through its Allstate, Esurance, Encompass and Answer Financial brand names. Now celebrating its 85th anniversary as an insurer, Allstate is widely known through the slogan "You're In Good Hands With Allstate®." Allstate agencies are in virtually every local community in America. In 2015, The Allstate Foundation, Allstate, its employees and agency owners gave $36 million to support local communities.

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SOURCE Allstate Insurance Company



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