When customers pay for utility services, they don’t want to have to wait. Providing a convenient payment solution, such as a utility bill payment portal or an online payments app, is key to ensuring that clients pay their bills on time. A robust utility payment solution also helps companies reduce late fees and avoid disconnection by providing a seamless, digital experience for both residential and commercial customers.
In addition to online payment portals and mobile apps, a utility company can offer eStatements via email or text messaging for faster and more secure communications. EDI (Electronic Data Interchange) is another popular method for delivering utility invoices to customers, which can save businesses millions in collection and postage costs. EDI also allows for automated statement reminders for unpaid balances to be sent to consumers, further reducing the risk of payment delays.
The Right EBPP Can Deliver a Modern Customer Experience
Increasingly, utility customers are seeking the same convenience and accessibility that they enjoy from their favorite retailers and service providers. With a comprehensive utility billing and payments platform, like Orbipay EBPP, companies can offer the payment channels that today’s customers are demanding—and adapt to the new ones that will emerge in the future.
When you enter a payment transaction in favor of a utility provider, such as a payment towards electricity charges, this is entered into Oracle FLEXCUBE against a product that has been defined with accounting details, rates and charges that are specific to the utility. utility payment solution
