Unisys has launched its [email protected] electronic bill presentment and payment solutions (e-BPP), which brings together billers, banks, and their customers to drastically reduce the amount of paper-based mail.
The service will consolidate bills or statements and present them through the customer's preferred banking websites. An e-mail will inform customers when there is a bill to view. Customers can review the information, request more details, and initiate payments within the bank's secure electronic payment mechanisms.
The solutions give banks the opportunity to leverage and promote existing branded online payment services to customers in preference to cheque and cash payments. Payers will be able to choose when to pay bills, thus eliminating the need to write and post cheques.
Electronic bill presentment and payment is already an area of huge growth. Industry analyst Gartner Group predicts that the e-BPP market will rocket from $4 billion (U.S.) in 2000 to $19 billion in 2005. Moreover, Datamonitor reports that CEOs from Europe's major 200 banks are making e-BPP a top priority.
The market for value-added financial services over the Internet is growing, and with e-BPP, banks have the opportunity of generating new revenue via the Internet.
"With over 50 percent of the world's cheques already processed by Unisys systems, this is a positive progression and we can use our expertise in this field to lead the market," said Unisys e-payments programme director Hoss Atri. "This e-BPP service will also result in more customer visits to the banks' Internet sites. E-BPP will also provide billers with access to a ready made large client base through the bank websites."
Unisys is an e-business solutions company with 37,000 employees in 100 countries. The company is headquartered in Blue Bell, Pennsylvania, in the Greater Philadelphia area.