What is Bill Presentment
A bill of presentment, like a bank check, is an instruction that directs a third party to pay the recipient a fixed sum. Today, electronic bill presentment and payment (EBPP), is an online system that allows electronic invoices to be created, processed and paid over the internet or a mobile app.
BREAKING DOWN Bill Presentment
Paperless billing, in the form of EBPP payment services have become a core feature of online banking services, allowing customers to review their mortgage, utility and insurance bills through a secure website, before making a payment directly from their bank account at a specified date.
EBPP has been widely adopted in business-to-business e-commerce, because it saves everyone a lot on postage and transaction processing costs, and can be used in cash management systems and on mobile devices. EBPP improves customer service and streamlines the reconciliation process and enables customers to pay faster, which improves cash flow.