Oct 202014
 

By Mohammed Waseem

With the advancement of technology in the bill payment space, developing nations have begun joining the race in the introduction of bill payment technology. India is a developing country, where this is true. The central bank of India, RBI (reserve Bank of India) has plans to centralize bill pay solutions.

The payment process in bill pay would be instituted through a Government Internal Revenue Order (GIRO) based system and all the bills would be payable online. The bills include utility bills, academic fees, insurance premiums and all types of bills. And the payment is made directly to the billers. Typically, users need to either make individual accounts for different billers or set up various methods of payment. Here, one account is all it takes to complete the payment to all the relevant billers.

People Waiting in a Queue to Pay BillsThis makes the process easy and convenient for the billers, as well as the users, reducing the number of accounts they have to manage. To make this project true, RBI is setting up Bharat Bill Payment Services, a nonprofit organization that would list all the billers in one place and enable users to pay all the bills from anywhere in the country. This way, the said entity would have connectivity to all the billers in the country. For the fact that it is an initiative of the central bank of the country, this becomes easier.

Bills can either be paid online or by visiting one of the operating units established under Bharat Bill Payment Services. One aim of the establishment of this service is paperless and hassle-free billing solutions.

It is expected that this service will make the lives of Indians convenient and the use of paper will also reduce, where bills are concerned. This is even truer due to the involvement of the central bank. Apart from avoiding long queues, users can manage their bills from one place. RBI is aiming to create a single window for payment of all bills.

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Oct 182014
 

By Mohammed Waseem

In my last post about bill pay service offered by IndusInd Bank of India, I had mentioned that they have partnered with BillDesk to offer bill pay service through online banking system. They offer solutions for businesses to offer a comprehensive bill presentment, payment and management solutions. But that is only one of the solutions they offer.

They offer bill pay solutions to individuals as well. Anyone in India can register for the service and they can start using it. This is the link to begin the registration process. Their website is a simple one, but is secure and convenient to use. They support many billers in 23 major Indian cities. They define billers as those companies that issue ebills and accept payments online.

BillDeskApart from these, there are payees, which are defined by them as those companies that do not issue ebills, but accept payments through BillDesk. An example for the latter is insurance premium payment. The biller list and the payee list can be referred to, to find out which of the companies are supported and which of the companies issue bills online.

To use the service, one has to login and add the required billers to pay the bills to. Once billers and payees have been added, payment instructions have to be provided, after which the bill is processed and the payer receives a confirmation. To try the service and know better, how things work, readers are advised to access this demo.

The benefits that BillDesk promises to offer include convenience, flexibility, effective tracking and savings in terms of time and money. Interestingly, the service is available free of cost for individuals. They make money from bill presentment and bill management solutions offered to businesses.

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Oct 182014
 

By Mohammed Waseem

Residents of India have many options to pay bills on time. Most of them resort to visiting one-stop bill pay destinations to pay their bills. Here, they again have to wait it queues at wait for their turns. The load is however reduced by the number of clerks processing the bills. Recently, new solutions have been introduced to make bill pay easier and convenient.

Online bill pay has been introduced by banks to enable account holders to pay bills conveniently. We will discuss the best of them which are preferred by Indians. IndusInd Bank is among the leading banks in the country and has tied up with billers in major cities to process their bills for their customers, who happen to be account holders at the bank.

IndusNetUsers can pay most bills including telephone, electricity, mobile phone, television and others. Presently, billers in 23 cities in India are supported. All supported billers, by name, can be accessed here. The service is available for free for IndusNet users, which is the online banking service offered by the bank. For on-time payments, users must schedule them at least 2 days before the due date.

IndusInd Bank is offering this service in association with Bill Desk, about which, we will discuss in the next article. Like any other bill pay service offered by banks, this service also requires that the users be their customers. They just add a feature to their already existing online banking service, to enable customers to pay bills and make their lives easier.

Users can register for an IndusNet Account by using the links here; they can also access the online demo to know more about IndusNet.

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Sep 212014
 

By Mohammed Waseem

Among the various types of organizations that offer bill pay, prepaid card providers is one. Most of these work in the country of origin, unlike some international bill pay solutions. Many prepaid solutions are offered only to people with a good credit score, but how about a service that is available for everyone? All users would have access to bill pay using this service.

The prepaid card service in question is AccountNow and it is meant for the residents of the United States. 100% approval of application is guaranteed, subject to identity verification. The users can use the card to withdraw money or make purchases anywhere in the world, where Visa Debit and MasterCard Debit cards are accepted.

AccountNowAccountNow allows users to pay bills within the United States, and this includes payments to service providers and even individuals. They guarantee speed, safety, ease, convenience and on time delivery. The bill pay service can be used to make one time payments or even setup recurring payments. Bills can also be paid over the phone, apart from paying them online.

This service is free of charge, which means no additional charges would apply for paying bills. However, using the prepaid card would attract a fee. To start paying bills, users of AccountNow prepaid cards should add payees to their account and schedule payments. All payments are completed using EFT (Electronic Funds Transfer), but if a particular payee does not accept electronic transfers, AccountNow sends them a check drawn on the user’s account. This check is mailed to the payee at no extra charge towards stamps and envelopes.

Users can also request for email confirmation notifying when the payment is sent. The report is however accessible online after the user has logged into their account. Users who already have an AccountNow card or are planning to go for a prepaid card that also allows them to pay their bills, AccountNow’s bill pay is a very good option. This link can be user to sign up for an account with them.

2 votes, 4.00 avg. rating (77% score)
Sep 182014
 

By Mohammed Waseem

When people travel overseas to work and make money in order to support their families, they are often unaware of bills their families bear. Bill payment is usually a local issue and most solutions are designed to let users pay their bills locally or in many cases, nationally as well. International bill pay is a rare service which not all service providers offer.

Money Move IT is a New Zealand based company that offers just that. Along with international money transfer services, they also offer bill payment service to the senders based in many countries, not just New Zealand. I wrote about their money transfer service, now let us have a look at their bill pay service in this post.

Money Move ITIf the sender knows the bank details of the biller in home country, they can pay the bills just like making a regular transfer. But in case the details are not known, then the biller needs to be pre-registered with Money Move IT to receive international funds towards local services. Senders just need to search for the company name and select an appropriate one, before providing the customer account number and sending enough money to cover the bills.

Currently, companies that pre-register with Money Move IT include utilities and schools, but they will be expanding this network soon. The senders can also request the company to sign up to receive the payments by directly contacting them using the ’Tell a Friend’ form or by providing their details to Money Move IT using the contact us form.

With this, senders can support their families better by paying their bills electronically and freeing them from the task of having their bills paid. In addition, automatic payments can also be setup for such bill payment. To use this service, one has to sign up for an account with Money Move IT, which enables them to send and receive money.

1 vote, 5.00 avg. rating (86% score)
Sep 162014
 

By Mohammed Waseem

There are many bill payment services that offer same day service as well, along with the usual bill pay that takes between 2 and 5 days. Same day bill pay is an add-on service offered by the service providers including banks and other organizations. Let’s now talk about an organization that specializes in same day payments.

MUFG Union Bank, a full service bank with branches all over the US offers same day payment service and specializes in it. In fact, the website to access this service is www.samedaypay.com/samedaypay. The service is powered by BankServ, an expert in electronic payments; they offer various solutions that automate payments.

SameDayPayWith this service, payment can be sent to the biller on the same day, provided the payment is initiated by 2:00 PM Pacific Time. Transactions are completed using ACH transfers and not using checks. Most supported billers accept echecks and credit card payments, and echeck payments can be made using any checking or savings account. Credit cards supported include AMEX, Visa, MasterCard and Discover.

Most billers receive the payment within 24 hours of the initiation of the transaction, and the payer receives a confirmation, but it may take up to 48 hours for their account to be debited. A bill can be scheduled up to 30 days in advance if the user is paying with echecks, and such payments can be cancelled at any time before 4:00 PM Pacific Time of the scheduled payment date.

The service is great because it is designed for payments being made at the last minute on or near the due date. Some billers may charge for the service, but SameDayPay does not charge any fee, except in case of a returned payment. This demo can be accessed to learn more about how the service works. Users can register online to start paying bills and have the payment delivered on the same day.

I could not find information on the supported billers, so the users are advised to register only after having enquired enough about the same.

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Sep 152014
 

By Mohammed Waseem

In a country like China, which has hundreds or thousands of industries with reach in almost every corner of the world, developments are rapid. But it is still termed a developing economy, because its per capita income is only a fraction of that is developed nations. In addition, over 98 million people remained under poverty line as in 2012; this is the second largest number of poor people in the world after India, as reported by the World Bank.

2011 was a difficult year for Chinese economy, a bank that remained committed to the development of the country was Industrial and Commercial Bank of China (ICBC). The bank offers products and solutions to all their customers and has 4.11 million corporate clients and 282 million individual customers, who benefit from the services through 16648 outlets across China, 239 overseas subsidiaries and a global network of more than 1669 correspondent banks as well as Internet Banking, Telephone Banking and Self-service Banking.

 Industrial and Commercial Bank of China LimitedCorporate Internet Banking customers can also benefit from the bill pay service, which is a result of the cooperation between ICBC and billers across China. This includes both personal and corporate customers. All transactions take place in the real time and money is transferred from the customer’s account to the biller when the payment is approved.

Customers can pay local and national bills, right from their online banking account and can rest assured that the payment will be automatically settled. They can also enquire about the bills, as long as the biller is supported by ICBC.

In order to use the online bill pay service, one must be a customer of the bank with access to internet banking. And they need to pay a fee for using the service, which would be specified at the time of signing up for it or using it. If the customers are interested to know the details, they may contact the bank through the hot line, 95588 or by sending a request online.

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Sep 092014
 

By Mohammed Waseem

American Express has this product called Bluebird, which has many features including bill pay. It is a complete solution for personal financial management. Just like any other bill pay service, Bluebird makes it easy to have all bills paid. In fact, users can pay any individual apart from paying bills. This saves them the time to visit a bank or biller’s premises and costs of stamps, envelopes and other related services.

Users can pay bills online or using the Bluebird mobile app. To pay a bill, one has to be a registered user and has to login to the Bluebird account. Among the many features, ‘Pay Bills’ has to be chosen. After having done that, a payee has to be added from the existing list or a new payee has to be added.

BluebirdOnce a payee has been added, payment method has to be chosen and the amount has to be keyed in. In order to submit the payment, a PIN has to be entered, which is usually set in advance. Once submitted, confirmation is displayed and recorded in the Bluebird account. Following every payment, a confirmation email is sent to the user.

There is a monthly limit of $10000 for payments to payees listed in the Bluebird Bill Pay System and $5000 for non-registered payees. It takes between 4 and 7 working days to complete the payment, so the user has to schedule the payment well in advance to avoid late fees.

By using this service, users can also earn points that can be redeemed later. Any bill from rent to a car payment can be paid with no additional fees. Taxes can also be paid with this service.

In order to register for the service, one has to fill in this form and start using Bluebird to manage all personal finances including bills payable.

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Sep 052014
 

By Mohammed Waseem

In Australia, most people use a bill payment solution called BPAY via financial institutions across the country. BPAY offers fast, secure and convenient bill payments through over 157 Australian financial institutions including banks and credit unions covering over 90% of the market. They support over 44000 bills for 22000 billers and 22000 sub-billers and process over 30 million bills worth more than $23 billion, each week.

The company is owned fully by Cardlink services Ltd., which is jointly owned by ANZ Bank, Commonwealth Bank, National Australia Bank and Westpac Banking Corporation. 92% of the transactions are processed online or on mobile phones.

ebppWith BPAY, users can get all their bills delivered right to their online banking account or their mobile banking account. This can be opted in addition to the usual paper bills normally received. It ensures anytime access and on time payments, apart from better control. More than 2.1 million Australians already use BPAY to receive bills and statements online.

Once registered, users can pay bills securely from anywhere they have access to the banking services. To get started, they need to contact their financial institution and get connected. They need to find the biller code and the BPAY logo to continue payment. After this, they can login and make the payment or schedule it for a later date.

With a mobile banking app, users can pay a bill by just scanning a QR code with their mobile phones. This ensures reduced human error as information is auto-populated after successful scan. With BPAY, users can view bills, store them and pay them either immediately or at a later date.

BPAY is not available to use directly. Instead its offered through another company, so the interested users should contact their respective billers to start using the service.

0 votes, 0.00 avg. rating (0% score)
Aug 282014
 

By Mohammed Waseem

Electronic billing is becoming so common that it may totally replace paper bills in the future and customers may receive electronic versions of their bills on their electronic mail. The latter is happening in our times, but the former has not been stopped yet, perhaps due to adaptability issues.

Due to the rise in such services, companies have come up with solutions for other businesses to offer electronic bill presentment to their customers, allowing them to pay online, without having to even leave their homes. CenPOS is one such company that offers an EBPP solution (Electronic Bill Presentment and Payment) for businesses that issue bills to their customers.

EBPPThis is coupled with recurring billing solutions to allow the business to charge the customer periodically and automatically. The solution is aimed at going paperless and saving costs on printing and postage. It also reduces processing time and ensures customer loyalty due to the facility provided. Businesses can also add discounts to bills and add expiry dates to invoices.

SMS alerts can also be registered for being informed about the status of payment. These are coupled with high security and robust reporting tools to help the business analyze and take decisions. This solution works seamlessly with other CenPOS solutions.

Customers can enjoy the fast, reliable and secure bill payment service that is easy to use. They don’t need to login or register to make the payment, because it is frictionless. They can pay using a debit card, credit card or ACH or even tokenization and get notified with confirmation by SMS. They can also review bills across all CenPOS merchants in one place, saving them time and making it easier to track bills and manage finances. With recurring billing, businesses can also offer instalment schemes without any difficulty.

To get details on implementation and setup, businesses can contact CenPOS by email or they can call them at 1877 630 7960.

1 vote, 1.00 avg. rating (46% score)
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