Cash management. (From the Library)."Electronic Bill Presentment and Payment See EBPP. : Is it Just a Click Away?" Alexandria Andreeff, Lisa C. Binmoeller, Eve M. Boboch, Oscar Cerda, Sujit Chakravorti, Thomas Ciesielski, and Edward Green Edward Green may refer to: People
Economic Perspectives, Fourth Quarter 2001, PP. 2-16. Each year, billers spend between $10.5 to $25.5 billion on paper-based bill processing, a labor-intensive process that involves printing account statements, stuffing them into envelopes, and sorting for mailing. The creation and processing of bills can take anywhere from one to three days, while the average bill takes three to five days to reach the consumer. The time and cost involved in paper-based billing can be significantly reduced by electronic bill presentment and payment, which is simply the electronic presentment of bills to consumers and the electronic initiation of payment by consumers. For EBPP (Electronic Bill Presentment and Payment) Sending invoices to customers over the Internet. When payment is due, an e-mail is sent with a link to a Web page that contains the billing information and the payment services that are supported. to catch on, however, the process must meet consumer expectations of convenience, time/cost savings, control over payments, universal payment options, privacy and security, reliability, and dispute resolution. EBPP also must meet biller bill·er n. One that bills, as: a. A clerk who prepares bills. b. A machine used in preparing bills. expectations of cost reductions, dispute resolution, reliable delivery, ability to up-sell and cross-sell, control over customer data, and broad distribution reach. The auth ors suggest that widespread adoption of EBPP is being hindered by four factors: 1) lack of incentives for participants; 2) lack of standards for enrollment and data exchange; 3) concerns over security and privacy of financial information; and 4) legal issues surrounding industry regulations, liability, dispute resolution, and consumer protections. The fees and cumbersome set-up processes on the consumer side and the substantial start-up costs on the biller side still represent significant disincentives for the use of EBPP. In addition, research indicates that 52 percent of Internet users Internet user n → internauta m/f Internet user Internet n → internaute m/f who do not pay bills online cite privacy concerns, while 48 percent cite security concerns. Economic Perspectives is available from the Federal Reserve Bank of Chicago The Federal Reserve Bank of Chicago is one of twelve regional Reserve Banks that, along with the Board of Governors in Washington, D.C. , P.O. Box 834, Chicago, IL 60690-0834 (312/322-5111), or www.frbchi.org.PJC PJC Permanent Joint Council (forum for NATA-Russia Consultations) PJC Prayer for Judgment Continued (legal term) PJC Pioneer Junior College (Singapore) |
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