Electronic Bill Payment and Electronic Funds Transfer (EFT)
Electronic bill presentment and payment is a service that enables you or your customers to receive and pay your bills over the Internet. Instead of a paper bill, you send an e-mail message that tells your customer when your bill is ready for review. They pay your bill online through an electronic transfer of funds from their checking account or in the case of recurring payment; your service provider automatically collects the funds.
For customers who already use the Internet, paying bills electronically is easy. It is convenient, and it eliminates the need for checks, stamps, and envelopes. Your customers can view and pay your bill online anywhere, anytime. All they need is Internet access.
Electronic bill payment is becoming more and more prevalent. Whether you want to pay your own bills online or you own a business and would like to electronically bill your clients, there are some great services available today.
One of the main reasons that many people are afraid to use electronic bill payment is the fear of their personal information being stolen by fraudulent third parties during transmission. There are many instances of identity theft, especially over the past several years. That said there are still some payment systems that are not secure, allowing theft of the data and information, which is then used to commit fraud. Using a secure service provider that has the proper encryption (SSL encryption), firewalls and protections is essential. This helps ensure that the data will be encrypted during transmittal so fraudsters cannot access it.
In addition, it is important to us a provider that not only sends encrypted information, but also stores it in encrypted form on its web servers. This way, hackers cannot gain access to the site and go through the accessing credit card numbers inappropriately. The system will often send a reminder to the customer a few days before processing the payment. In addition, they will send an e-mail confirmation or receipt for the customer's records. This is much easier than manually sending your customers a receipt every time they make a recurring payment, especially if you have hundreds of subscription or membership-based customers.
No matter what kind of business you run, electronic funds transfer can be of use to you. There are online payment solutions companies that will make your electronic funds transfer transactions secure and easy. Your customers will appreciate the convenience and will be more likely to continue doing business with you.
- click here to contact us to purchase
- click here to review other products and services
- click here for main menu
