EBPP (Electronic Bill Presentment And Payment)

EBPP (Electronic Bill Presentment And Payment)

On the Internet, Electronic Bill Presentation and Payment (EBPP) is a process that enables the bill to be created, distributed and paid on the Internet. This service contains applications for many industries ranging from financial service providers to telecom companies and utilities.

Although buying a product on the internet with a credit card has become a common phenomenon. Seeing the credit card bill yourself, and paying the bill electronically - has not. It is expected to change dramatically as new EBPP products are introduced, which include features like secure e-mail delivery, and EBPP technology becomes more common in business-to-business e-commerce.

One of the barriers to adopting EBPP widely is in the complexity of the billing system and procedures used by competitive banks and financial institutions. Some have opposed the implementation of EBPP for fear of being unable to cross the other services for customers, although experts claim that EBPP is ideal for such type of marketing. The banking industry has also been resistant to losing on attractive cash-management services, reminiscent of the industry which fought and lost credit card transactions. Disputes involving similar security and implementation standards have also prevented the adoption of EBPP.

The common protocol known as Open Financial Exchange will allow firms to integrate their systems. But the protocol has not been widely embraced, especially by banks, which are probably concerned about losing control over their important customer information. A second competitive standard is also emerging. Spectrum, the Chase Manhattan Corp, a joint venture between First Union Corp and Wells Fargo and Company, is adopting the Interactive Financial Exchange (IFX) protocol. IFX Forum, an organization that includes financial institutions, billers, insurance companies and vendors, is developing the IFX.

Regardless of these difficulties, experts estimate that industry will experience growth growth, which will motivate customers who want to be able to see and access their bills directly online, with the convenience and time savings associated with being able to see and send.