Providing customers with a seamless and secure digital payment experience is critical to helping utilities reduce their administrative expenses while getting paid faster. By enabling multiple ways for customers to pay their utility bills—whether that be through traditional methods like credit or debit cards or newer options such as ACH payments and voice payments via AI-powered virtual assistants—utility companies can offer a more modern billing and payments experience that meets customer expectations and improves business process efficiencies.
A product is a category of transactions for which you have defined accounting details and rates and charges that are applicable in favor of the institution whose accounts you accept and process payments. You can define a product by entering the details in the ‘UP Product Definition’ screen.
As high-profile cyberattacks continue to occur, customers are increasingly concerned about how their sensitive data is protected when making online payments. This can be a challenge for software providers that aren’t PCI compliant, especially since many utility payments involve personal and financial information.
The good news is that it’s easy to enable a secure, convenient and modern billing experience with an EBPP solution for utility services that also includes payment processing capabilities. With an EBPP solution, you can provide the bill payment options that your customers want and that are in line with their experiences with other retailers and service providers. For example, they expect the convenience of being able to use chatbots or mobile apps to check their balance and make payments. utility payment solution