Electronic Bill Payment and Presentment (EBPP)
Candlefocus EditorElectronic Bill Payment and Presentment (EBPP) is an online service for bill payment and management. It is designed to make it easy and efficient for consumers to pay their bills electronically. By eliminating paper bills, it also reduces processing costs and speeds up the settlement process.
When using EBPP, consumers can pay their bills processing costs and speed up the settlement process. For billers, EBPP allows them to receive payments quickly, reduce the printing and mailing costs, and lower the risk of lost or fraudulent payments.
There are different types of EBPP systems available. In the biller-direct model, consumers pay their bills directly via the company's website. Banks sometimes host their own bill payment services, enabling customers to pay multiple bills from their bank accounts through a bank-aggregator system.
The latest type of EBPPs are consumer consolidation EBPPs. These allow customers to pay all of their bills from one website. These EBPPs may also provide multiple payment options, enhanced customer service functions such as notifications, and automatic reconciliation of payments.
EBPP services offer benefits to both consumers and billers, helping to make payments and bill management more efficient. So if you’re a consumer who wants to pay bills quickly and securely, or a biller who wants to reduce the costs and risks associated with processing payments, EBPPs might be the right choice for you.