Bill Presentment and Payment

A Bill Presentment and Payment solution allows businesses to investigate their payables by entering in merchant definable keywords and account related data, e.g. Invoice Number, Account Number, etc.

Using sFTP containing customer receivable information, the Biller uploads Bill Definition files and direct their customers to the BillFind portal. Its up to the merchants to choose whether they accept Credit Cards, eChecks (ACH) or both, payments wise.

Unlike electronic invoices that are generated and sent to customers, BillFind + Pay allows customers to lookup their bill information themselves and make a payment. Businesses can significantly reduce their customer service load by implementing BillFind+Pay.

The bill presentment and payment system can be coupled with an IVR Payment system, as both systems reduce man hours required to process and originate receivables and optimize the receivable process.

In addition SMS Payment Solutions or Pay by Text solutions offer the ability to send customers text messages from which they can make payments with their phone.

Loaded with Features

  • Customized Billing Rules: A biller can define rules like Pay Entire Amount or Oldest Payment First.
  • Update Bill Definition Files whenever needed via secure FTP.
  • Ordered Billing: Billers can require that their customers remit payment on a series of bills in a specific order. For example, due dates – the biller can require a customer to pay multiple bills in the order of date due, eliminating bills skipped over.
  • Customizable Receipts: Billers can setup automated email delivery of payment receipts using the dashboard notification system as well as print receipt function.
  • Multiple Payments: Customers can make payment on more than one bill at once.
  • Customize the Customer search experience: Multiple fields can be employed to make the user experience easy for your customers to locate and pay their bills. The following fields can be used for search files, e.g. Customer ID, Customer Name, Unique Bill ID, Bill Number, Address, Any of the additional four biller definable fields.
  • PDF Invoice: Customize the bill presentment to include a PDF invoice that customers can download for their records.

The Bill Presentment and Payment system can be used with an existing merchant account. An account can be provided if one does not exist. To use the system with eChecks, we must provide that portion of the processing account.

A csv template is used for populating the customer data in order to locate and transfer payments for all outstanding account-related invoices. Billing companies simply provide a menu item and url on their website, thus directing customers to the hosted Bill Presentment and Payment site. Billing businesses choose their searchable fields, and in some cases a billing company might only want to make available account number for locating an invoice.

Numerous options exist for reporting of transaction originations, status, rejected items, settlements, deposits and future transactions:

  • Reporting via a Virtual Terminal can be accessed by any member of the merchant organization who has been granted access and reporting permissions. Summary and detailed reports are downloadable in a number of formats: XML, CSV, Web Archive, XLS, Tiff, Docx
  • API: Organizations having development capabilities can opt to integrate their operational software for receiving reporting data, including using webhooks for near realtime transactional status. Both BOAP and RESTful API’s are available for reporting integration of the Bill Presentment solution.
  • Automated email delivery of daily originations and rejected transactions.

At the end of the day, businesses have a goal of reducing the cost of receivable payment acceptance, making a Bill Presentment and Payment solution a necessary implementation. Companies should provide as many technology channels as possible for merchant customers to locate and pay their invoices with zero involvement from customer service. This leads to more satisfied customers.

Don’t forget the inherent risks associated with live customer service agents taking sensitive credit card or checking account data over the phone. Any less than desirable employee behavior is removed from the risk factor in handling credit card are ACH payments data.

With advances in technology companies can present billing statements and methods to accept any associated payments. Since very few companies have yet to embrace these new payment acceptance technologies, you can make your business stand out with a Bill Presentment and Payment solution.