electronic bill payment and presentment
Post on 19-Oct-2014
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DESCRIPTION
Various models of electronic bill payment and presentmentTRANSCRIPT
EBPP:
ELECTRONIC BILL PRESENTMENT AND PAYMENT
EBPP
Electronic Bill Presentment and Payment (EBPP) is the electronic presentation of statements, bills, invoices, and related information sent by a company to its customers, and corresponding payment for goods or services.
Participants
Biller- An entity that bills a Customer. Customer- The party that receives the bill. Could be a
consumer or a business. Biller Service Provider (BSP) - An agent of the Biller that
provides services such as bill formatting, data parsing, bill hosting and bill consolidation.
Customer Service Provider (CSP) - An agent of the Customer that provides service access. Could be a personal finance management software, direct banking site, or a Customer aggregator
Biller Payment Provider (BPP) - Processes payment and remittance information on behalf of the Biller.
Customer Payment Provider (CPP)- Processes payment and remittance information on behalf of the Customer, could be the Customer's bank or a third party.
Payment/Remittance Network(s)- Transfers payment and remittance information between the BPP and CPP.
Process
Service Initiation
Presentment
Payment & Remittance
Service Initiation
Biller
Customer Service Provider (CSP
Biller
Customer Service Provider(CSP)
Presentment Models
Biller Direct Third Party Consolidation/Aggregation Customer Consolidation Emerging Models
Biller Direct
Third party consolidation /aggregation model( Thick and Thin)
Tyh
Customer Consolidation model
Payments
Biller Originated Customer Originated Third-Party Originated
Biller Originated
Customer Originated
Third party originated
Consumer Benefits
Direct control over the timing and amount of the payment
A savings on the cost of checks, postage and envelopes
Simplify bill payment processing and record retention
Centralize and streamline all bill payment functions and storage on their computer
Review bills and make payments when they want, 24 hours a day
Reduction or elimination of paper filing and storage
Biller benefits
Improve customer service Leverage the delivery power of the Internet Provide a unique opportunity to touch your
customers in a new medium Create one-to-one marketing opportunities Integrate with existing automated billing and
payment functions, such as cash management and accounts receivable
Reduce billing and payments processing expense Customer retention Improve cash flow and posting time
Sample online bills
Examples
www.bsnl.co.in
www.icicibank.com
www.billjunction.com