Electronic Bill Presentment & Payment

Electronic Bill Presentment & Payment or eBilling is the electronic delivery and presentation of statements, bills, invoices and related information that is sent by a business to its customers.  Some of the more advanced Electronic Bill Presentment & Payment systems permit customers to electronically settle payment for the goods or services. eBilling is also referred to as EBPP (Electronic Bill Presentment and Payment) or EIPP (Electronic Invoice Presentment and Payment).

Electronic Bill Presentment & Payment is a common form of online bill presentation and processing of payment transactions.

Quick Electronic Bill Presentment & Payment Jumps:

• Different Types of Electronic Bill Presentment & Payment Approaches
• Why Consider Electronic Bill Presentment & Payment?
• How Widely Used is Electronic Bill Presentment & Payment?
• Electronic Bill Presentment & Payment's Positive Impact on the Environment
• Striata's Electronic Bill Presentment & Payment Solution

Methods of Electronic Bill Presentment & Payment

Historically, most companies present bills to the customer via a Web site, using one of the models already discussed. Others offer customers the option of paying directly via email. For these billers, the question becomes: Do you "push" the Electronic Bill to your customer in an email or "pull" her to a Web site?

The pull model requires the customer to log onto the Web site to view an invoice before authorising payment. The push model presents the Electronic Bill in a secure email and allows the customer to authorise payment using a button embedded in the message. Because it does not require log-in, push minimises the cost and overhead of helping customers when they forget their usernames and passwords.

Either way, the bills are paid by credit card or, to reduce the potential for fraud, by draft through an automated clearing house (ACH) that handles the transaction processing. Both methods also include all the things that customers would expect to find in a paper bill: the invoice, company and regulatory data, and information on other company services and offerings. So Electronic Bill Presentment & Payment still provides the upselling opportunities that used to share envelope space with mailed bills.

What are the Benefits of Electronic Bill Presentment & Payment?

The introduction of Electronic Bill Presentment & Payment has enabled many large-volume billers to reduce costs associated with billing their customers (printing, paper, postage). These cost reductions have played an important role in these billers’ ability to maintain a competitive edge.

Electronic Bill Presentment & Payment Benefits for Billers:

Electronic Bill Presentment & Payment Benefits for Consumers include:

• Convenient access: 24/7 access from any Internet connection.
• Information is secure and confidential.
• Process saves time — customers no longer need to wait to receive their billing statement in the mail.
• Free service (most billers do not charge for the convenience of EBPP)
• Access to historical billing statements, without having to request reprints.
• User-friendly format of billing statement.
• Easy online access and payment of bills.

How Widely Used is Electronic Bill Presentment & Payment?

More and more customers are going to their keyboards instead of their mailboxes to collect and pay bills for their homes and businesses. In fact, a majority of customers who have at-home Internet access now say they actually prefer Electronic Bill Presentment & Payment to the old paper-based way of doing business, according to the April 2007 Consumer Bill Payment Survey, conducted on behalf of Electronic Bill Presentment & Payment vendor CheckFree by Harris Interactive and the Marketing Workshop.

According to CheckFree, the most important aspect of Electronic Bill Presentment & Payment is that it provides a way of enhancing the customer relationship. "It's more secure, it's more convenient, and it's faster," she says, adding that when companies implement Electronic Bill Presentment & Payment, "they're creating a customer-satisfier."

Electronic Bill Presentment & Payment's Positive Impact on the Environment

A new study by Calif.-based Javelin Strategy and Research, found that if all the nation's households just received and paid bills using Electronic Bill Presentment & Payment solutions, they'd save 16.5 million trees each year, or the amount of lumber needed to build 216,054 typical single-family homes.

Striata have calculated that for every 500,000 bills printed, the following environmental damage is done:

• 13 tons of paper is used
• 26 tons of trees are destroyed
• 214,000 gallons of water is used
• 25,233 pounds of solid waste is generated
• 780 pounds of air emissions are spewed out
• 65,754 pounds of greenhouse gases are emitted
  
  (Using tools provided at papercalculator.org)

Implementing Electronic Bill Presentment & Payment provides a powerful Corporate Social Responsibility message to your customers and shareholders.

Striata's Electronic Bill Presentment & Payment Solution

To find out more how Striata can assist in your switch to Electronic Bill Presentment & Payment, read our Electronic Bill Presentment & Payment Guidelines.