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EBPP: Electronic Bill Presentment and Payment
Electronic bill presentment and payment (EBPP) is a process that enables bills to be created, delivered and paid online. Financial institutions, utility providers, apartment complexes and telecommunications companies commonly use EBPP, but Unity FI Solutions can tailor a solution to fit any business, regardless of industry.
Why does your business need EBPP?
Technology is evolving so that your customers are spending more and more time online. Consequently, many of them no longer want to receive physical paper bills in the mail. Our EBPP solution allows you to send them a bill via email. In addition, our software gives your business the ability to monitor a bill’s status so you can see when it has been opened, viewed and paid. Our safe and secure platform offers great benefits to both merchant and customer.
Our EBPP software provides a flexible and comprehensive solution to seamlessly invoice customers and receive payments efficiently. An electronic statement is emailed to the customer who then logs in to your company’s branded payment portal. Here they can make a payment, set-up recurring payments and view payment history.
There are two types of EBPP. The first is the biller-direct system. This solution involves a company using its own branded portal to facilitate direct payments from customers. The second system is the bank-aggregator system. It allows customers to make electronic payments to multiple billers simultaneously. Unity FI Solutions offers the biller-direct system and works with individual clients to build a portal that integrates with their brand’s look and feel.