Posted by Ruhsora Magruf on 17 Sep 2019
Today’s consumers are more connected and informed than ever before. They expect products and services to match the mobility and flexibility of their lifestyles. So why should their bill payments be any different?
Truth is, consumers are always looking for the newest ways to manage and pay their bills. Providing solutions that are forward-thinking and customer-focused can help businesses establish a competitive advantage. An electronic bill presentment and payment (EBPP) solution can help your business get started on this journey.
What is EBPP?
An EBPP solution integrates seamlessly into existing systems to present bills electronically and accept payments from customers. EBPP helps bridge the gap between digital payments (web, Pay by Text, intelligent personal assistants, etc.) and payments generated from more traditional channels (agent, IVR, kiosk, etc.). In addition, an EBPP solution supports multiple payment methods (ACH, credit cards, debit cards, cash, etc.) while giving customers the ability to choose from a variety of payment options (recurring payments, payment plans, AutoPay, etc.).
Learn more about the basics of EBPP.
What are the benefits of EBPP for businesses?
Bill payments have a direct impact on a business’s bottom line, making it imperative to deliver a user experience that works for all customers. The personalization that an EBPP solution can provide makes it easier for businesses to offer a user-centric experience no matter how customers choose to pay.
Here are some of the benefits of EBPP for businesses:
Read the complete list of benefits in our infographic.
The Bottom Line: Billing and payments are a critical component of the customer journey. Providing a wide range of electronic payment options to your customers can help your business meet their needs while strengthening customer relationships, reducing costs, and streamlining operations.
*This is an update on an original post published April 2014
09 Jul 2021 Blog Report: Modernizing Payments Infrastructure in the Era of Real-Time Payments We highlight some of the key points from our Payments Infrastructure Outlook: Real-Time Payments Take the Lead report with Mercator Advisory Group.