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Electronic Invoice Presentment
and Payment (EIPP) is the process by which
companies present invoices through the Internet
and make payments to one another for goods
and services.
Electronic Bill Presentment and Payment
(EBPP)
is the electronic presentation of statements,
bills, invoices, and related information sent
by a company to its customers, and corresponding
payment for goods or services. The Internet
provides billing companies and their customers
with new methods to deliver and access billing
information.
Consumer Benefits
The convenience offered through EBPP is attractive to
your customers. With EBPP, your customers may realize
the following benefits:
- Direct control over the timing and amount of the
payment
- A savings on the cost of checks, postage and envelopes
- Simplified bill payment and record keeping
- Centralized and streamlined bill payment functions
- May review bills and make payments on line whenever
they want, 24 hours a day
- Reduction or elimination of paper filing and storage
Biller Benefits
Electronic Bill
Presentment and Payment (EBPP) redefines bill
delivery for all participants. New standards
and rules are being built to facilitate this
new, emerging technology. With EBPP, your
company has the potential to:
Improve customer service
Leverage the delivery power of the Internet
Provide a unique opportunity to touch your
customers in a new medium
Create one-to-one marketing opportunities
Integrate with existing automated billing
and payment functions, such as cash management
and accounts receivable
Reduce billing and payments processing expense
Customer retention
Improve cash flow and posting time
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