There is no denying the way that ‘electronic billing’ or ‘electronic bill payment’ has made covering tabs faster and easier electronically. From payment of consumer bills like electricity, telephones, water, taxes etc. the entire concept of billing the customer to receiving payments all electronically through computerized systems and networks, is a wonder of the Internet.
The credit for creating and advancing different methods of electronic billing in the US goes to the National Automated Clearing House Association (NACHA). Electronically operated billing applications provide for easier payment settlements for merchandise and enterprises. Telecommunications networks supported by the Internet are utilized by billing companies and banks’ customers to easily access billing or payment data and to remit payments on time conveniently without experiencing the numerous exterior hassles. Such services provided by banks and budgetary establishments additionally provide live help through Customer Service Representatives who provide general assistance and facilitate customer payments.
One of the most evident advantages in electronic billing and payment receipt is the critical and significant reduction in stationery and other resources, and of course delays in conventional mail billing.
Procedures and parties involved
There are several roles involved in the overall process of electronic billing. Depending on the model that is generally appropriate for the client is utility, billers implement one or more model to provide this service hoa don dien tu fpt. Because of the continually changing and evolving nature of this industry, likely expansion of alternatives is just to be expected.
Some of the roles comprehensively defined in the process are:
- Biller Service Provider (BSP) – the BSP is an agent of the billing party that provides the service
- Biller Payment Provider (BPP) – the BPP is an agent or service provider who accepts remittance and payment data on behalf of the billing party
- Consolidator – a service provider who consolidates billing from multiple billing parties or Bill Service Providers and presents them to the Customer Service Provider
- Customer Service Provider (CSP) – a customer agent or agency that is the direct interface between businesses, service providers and customers for presenting the bills.
The ‘electronic bill payment’ alternative is today a typical feature with online financial services (Online banking, Internet banking or e-Banking), that permits customers to perform money related exchanges through secured websites or entryways created by a bank or budgetary foundation. This feature permits a depositor to transfer money from his record to a vendor for payment of specific service or for credit against specific bookkeeping head. Electronic payments are generally executed in real time electronically albeit some banks and monetary foundations trust that a 24-hour period will process or acknowledge payment.