EBPP


Also found in: Financial, Acronyms.

EBPP

(Electronic Bill Presentment and Payment) Sending invoices to customers over the Internet. When payment is due, an email is sent with a link to a Web page that contains the billing information and payments methods that are supported. Customers can "click here" to pay bills via the payments service they are enrolled with. The Web page can also provide links to more support and information than would normally be included in a paper bill as well as offerings for new services. See Web payments service.
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Oesterreichische Post said that EBPP is a cornerstone in its strategy.
Sellers also expect that EBPP will enable them to roughly halve the cost of resolving invoice disputes, to about $10 a dispute from $20.
Service providers deploying EBPP applications can expect to save up to $8 billion in 2001, according to Killen & Associates, a California-based e-business research and consulting firm.
For banks, EBPP represents something of a threat, in that it could lead to customer attrition and erode several revenue streams: the float associated with paper check processing, cash management fees, and other revenues associated with traditional payment processing.
The EBPP industry continues to increase dramatically.
But as Forrester first predicted in 2003, annual EBPP growth rates are slowing dramatically and will continue to do so over the next five years.
What features will increasingly differentiate banks' EBPP offerings, and how should banks (or banks' competitors) respond?
Now -- for the first time ever -- financial institutions can offer a superior, free bill pay service and actually profit from it," said Hill Ferguson, General Manager of EBPP Solutions at Yodlee.
We also know that partnerships and collaboration between players in the EBPP space is what it will take to move EBPP forward.
It is a comprehensive multilevel EBPP product for managing billing accounts, and can dramatically improve interactive self-care by managing complex corporate bills, as well as dealers and resellers.
From the leading portals to global retail banks and brokerages, the financial services community is looking for a more affordable way to offer a rich EBPP solution for consumers, and at the same time accelerate the adoption of online banking and payments.