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Electronic Costs Presentment and Payment (EBPP) is the term used to describe the capability to present expenses to customers and to assist in their repayment by electronic means. EBPP offers the opportunity to eliminate the costs associated with printing conventional paper bills, reduce delivery gaps and provide a channel for two way interaction between suppliers and their customers on a one-to-one basis. Through the customers’ perspective, EBPP can provide a simple way to handle and handle the repayment of expenses.
EBPP Designs
There are five main types of EBPP service provided:
1 . The Biller Direct Model through which billers offer their expenses on their individual personalized websites.
2 . The Consolidator Style in which companies allow customers to access and process bills from multiple billers. Within the consolidator version there are several sub-models these include:
a)The Consolidator ” Thin Consumer Model provides a site that billers mail their bills for the consumer to view in their leisure. Information here is described and the client must visit the billers personal site to examine their bills in detail.
b)The Consolidator ” Thick Customer Model delivers billers having a site that host all the billers info. In this unit paper bill scanning is usually not backed.
c)The Customer Consolidator Style follows similar blueprint while the heavy consolidator model but allows both electronic and conventional paper scanned expenses offering the ability of viewing any bill online. The theory behind this model is that it will eventually attract as much customers as it can be in the short term after which streamline to purely digital methods in the long run.
d)The Consolidator Portal Version is a skinny client consolidator model but hosted by using a popular web site site, including Yahoo.
e)The Financial Institution Version like the site model provides for a hosting web page for consolidated bills. Because the bills are placed within the customers bank site payment processing is speeded up while client affinity with bill payment and banks strengthens client acquiescence.
a few. The Consumer Centric Aggregator Version. Similar to the consolidator models but different enough to be considered a separate EBPP approach. The CCA style shares various affinities while using banking consolidator model where billers send out their accounts to the CCA site, rather than the consumer, and they are paid directly from the site. The approach can be equivalent in principle to Direct Charge payments in the united kingdom.
4. The e-mail Based Model. In this unit detailed invoices containing abundant text graphics are sent to the customer in that case linked back in sites intended for online payment or in depth bill viewing. The medium may include invasive direct promoting messages.
your five. The Service Bureau Unit. This model type is a new development in the wonderful world of EBPP and facilitates connection to large-scale consolidators for SME companies. Basically the Assistance Bureau deals with its buyers needs and offers an ASP model of EBPP.
