Posted by Tiffany Taylor and Alison Arthur on 05 Mar 2021
This blog frequently explores issues related to electronic bill presentment and payments (EBPP), from defining frequently used terminology to busting common myths. But what exactly do we mean by EBPP? Here’s a high-level overview of the major components, features, and functionality of an EBPP solution to help get you started.
EBPP is a holistic approach to presenting electronic bills and accepting digital payments from consumers. An EBPP solution is integrated into a biller’s systems to facilitate seamless e-bill delivery and payments acceptance. It allows billers to deliver the following capabilities to customers:
In addition to client-facing features and functionality, an EBPP solution also allows billers’ internal staff to perform the following customer support activities:
Finally, an EBPP solution offers online reporting to give billers additional transparency into activities related to payments, customers, and settlement.
EBPP in Action
How does EBPP work in the real world? Our 2020 Trends Report sheds light on how consumers approached their bill payments over the course of last year. Some key takeaways include:
To learn another payment term, go to our blog, What Are Real-Time Payments?
*This is an update on an original post published March 2019
Alacriti’s Orbipay EBPP is a customizable electronic billing and payments solution for businesses and financial institutions of all sizes. For more information, please contact us at firstname.lastname@example.org.
19 Jan 2022 Blog 5 Benefits of Card Account Updater for Bill Payments Due to lost and stolen cards, expiration date changes, and mass reissuance, payment card information changes often. A credit card updater can assist prevent missed bill payments due to outdated credit card and debit card data.
12 Jan 2022 Blog Paper or Electronic Billing: What’s Your Preference? While businesses may benefit from eliminating paper bills, some customers still depend on them. By having the right incentives, your organization can support a permanent move toward electronic bill presentment and payments (EBPP).