Electronic Billing – EBPP
Lower Costs and Speed Payment With a Push and Pull Strategy.
Electronic Bill Presentment and Payment (EBPP) is an extension of online payments but differs in several ways. Online bill payment directs consumers to a website to pay their bill, a “Pull Strategy”. EBPP uses a “Push” strategy by securely delivering a bill, invoice, or statement to a consumer or business. The “Push” strategy has several advantages to increase consumer participation, particularly with “less technical” demographic segments.
eBills are paid directly from the bill with no need to go to a website. Recipients can view and, with a single click, pay from within the bill. No registration required, no logins to remember, and no “phishing” scams. Bills are encrypted in transit and remain encrypted on the recipient’s computer when not in use.
Interactive SMS Billing.
Similar to EBPP described above, bills and/or bill reminders can be presented on mobile devices via text messaging. Recipients can authorize payments directly from the text message, schedule future payments, or any other options configured by the company. More »
Reduce Billing Costs.
Every business is looking for practical ways to cut operating costs and reduce their carbon footprint. The high cost of paper and the higher cost of postage make paper billing an obvious target for cost savings. “Going Green” is a great marketing campaign. eBilling can reduce paper and ink consumption significantly every month.
Boost Customer Adoption Rates.
Different market verticals have varied success with online bill payments. Customer adoption is the key to a successful online initiative. Pushing bills to the customer in an encrypted e-mail, rather than pulling them to a website, can increase adoption by 100% over six months. More »
Get Paid Faster.
Cost reduction is only one benefit of electronic billing. Electronic billing lowers DSO and when implemented and promoted well can reduce DSO by 50% or more, so you can collect payments more quickly. What would it mean to your business to collect balances twice as fast?
Use Customer Profiling For the Perfect Blend of “Push” and “Pull”.
There is no one “magic solution” for reducing paper bills in every situation. Implementing both the “push” and “pull” methods is key to maximizing results. Profiling and targeting different segments of the customer base with their likely preferences maximizes eBilling campaign adoption in the shortest time frame.