Bill Payment

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Bill Payment

The regular reception of compensation for a repeated service. For example, paying the rent is a form of bill payment because it is done each month.
References in periodicals archive ?
In acquiring new EBPP technology, Litan cautions, "Enterprises should be cautious about adopting disparate applications that later must be patched together.
And Avolent, a leading EBPP player in the business-to-consumer marketplace, recently expanded its software offerings to support B2B e-commerce.
EBPP systems also allow customers to organize how they receive, store and pay bills, including automatic payment scheduling; extract billing data and load into Excel or Quicken to study usage patterns and track costs; and validate payment with an electronic audit trail.
There are two different EBPP models: biller direct and consolidator.
They are likely to be able to extend this relationship on line because they are in the best position to consolidate EBPP across multiple billers.
However, we believe that it is only the biggest US banks that need worry about adopting EBPP quickly and shaping the models that deliver it.
The five-year EBPP market forecast is based on a survey of more than 68,000 households, Forrester's largest annual consumer survey.
Revenue -- Financial Service Providers can finally make EBPP an attractive business opportunity, earning new interchange and finance fee revenue through the use of credit and debit card payments.
Lower Cost -- By leveraging its core account aggregation platform, Yodlee's BillDirect costs up to 70% less than competing EBPP platforms.
Covers the EBPP markets (B2C only) in the US and Western Europe, particularly focusing on the UK
Out of the two main models, the biller-direct approach to EBPP has had much more success with consumers.
What makes BillDirect different is its ability to take the best features of the biller direct model and the best features of the consolidator model and bring them together to give bill pay users a far superior experience," said Hill Ferguson, General Manager for Yodlee's EBPP Group.