History
The model was created by the Council for Electronic Billing and Payment of the National Automated Clearing House Association. Certain electronic billing applications also provide the ability to electronically settle payment for goods or services. Customers of banks and billing companies can use the internet or the phone to conveniently remit payments as well as access their billing information. The service is also supported by customer service representatives (CSRs) contacted directly by the consumer to facilitate payments or receive general assistance and answer questions. It can produce substantial savings to traditional print & mail billing and payment remittance, and as an added benefit is a significant reduction in the use of paper.
Read more about this topic: Electronic Bill Presentment And Payment
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