Businesses can investigate their payables with a Bill Presentment and Payment solution by entering in account related data and merchant definable keywords, e.g. Invoice Number, Account Number, etc.  Using sFTP containing customer receivable information, the Biller directa their customers to the BillFind portal, and uploads Bill Definition files. The merchants choose whether they accept eChecks (ACH), Credit Cards, or both.

BillFind + Pay allows customers to lookup their bill information themselves and make a payment, allowing businesses to reduce their customer service load. This system can be coupled with an IVR Payment system. Both systems reduce man hours required to process and originate receivables and optimize the receivable process.

Features of a Bill Presentment and Payment:

  • Customized Billing Rules: A biller can define rules like Pay Entire Amount or Oldest Payment First.
  • 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:
    • Customer ID
    • Customer Name
    • Unique Bill ID
    • Bill Number
    • Address
    • Any of the additional four biller definable fields
  • Update Bill Definition Files whenever needed via secure FTP.
  • Customizable Receipts: Billers can setup automated email delivery of payment receipts using the dashboard notification system as well as print receipt function.
  • 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.
  • Multiple Payments: Customers can make payment on more than one bill at once.
  • 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, and an account can be created if one does not exist. To use the system with eChecks, we must provide that portion of the processing account.

Populating the customer data in order to locate and transfer payments for all outstanding account-related invoices can be done with a csv template. Billing companies provide a menu item and url on their website, and direct customers to the hosted Bill Presentment and Payment site. Billing companies choose their searchable fields, and may simply make the account number the only option for locating an invoice.

There are many options for reporting of transaction originations, status, rejected items, settlements, deposits and future transactions, including:

  • 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
  • Automated email delivery of daily originations and rejected transactions.
  • 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.

At the end of the day, businesses want to reduce the cost of receivable payment acceptance. This makes a Bill Presentment and Payment solution a necessary implementation. To improve customer satisfaction companies should provide as many technology channels as possible for merchant customers to locate and pay their invoices with zero involvement from customer service.

There are 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.

Advances in technology allow companies to present billing statements and methods to accept any associated payments. Make your business stand out with a Bill Presentment and Payment solution.