Utility payment solutions must offer the right functionality to help your customers save money. That includes the ability to make recurring payments via ACH. You also need to have a customer Web portal and mobile app that provide customers with various billing options, payment channels and a way to check their bills, including a breakdown of their current balance. It’s essential to also have a robust error-control system for invoice verification and support for cost distribution between units where usage-based billing isn’t possible – a ratio utility billing system (RUBS).
With the amount of energy, water, gas and waste bills that people pay on a regular basis – according to “Nerdwallet” it could be up to 400$ a month for households – it’s vital that they can make these payments easily through digital channels. This requires a robust EBPP solution that offers a consistent and easy-to-navigate experience across all platforms, from desktops to mobile devices. And it must be able to adapt easily to future payment channel innovations. This will enable your customers to have a modern, efficient bill payment experience that matches their experiences with other retailers and service providers. This will help them keep their costs down and give them peace of mind that their recurring payments are always on track. To achieve this, you need to be able to define all the details of a particular type of payment transaction as a product. This means that whenever a payment transaction is entered in favour of the utility provider institution, all the attributes and specifications that you have defined for the product will be applied to it. utility payment solution