MicroVault Corp. recently introduced an electronic bill payment and presentment (EBPP) solution that offers a bit of a twist. While most EBPP solutions employ a Web site as the customer access point for bill presentment and payment, MicroVault’s NetCourier uses e-mail.
With NetCourier, billers prepare their recurring bills and deliver them to customers via an e-mail attachment. Bill recipients use a unique personal identification number to open the e-mail bill. The consumer then is presented with various payment options, which can include credit cards, offline debit or check cards, and electronic checks. The process utilizes MicroVault’s own NetSecure encryption technology.
Recent research suggests that many consumers may prefer using e-mail as EBPP’s primary vehicle. “E-mail is a comfortable bill delivery solution for many consumers because of its high level of familiarity,” said Beth Robertson, vice president and billing and payments director for market information and consulting firm PSI Global. “According to our research, 44 percent of households prefer the concept of bill delivery via e-mail when compared to other electronic alternatives.” PSI Global predicts that EBPP activity will soar to nearly 5 billion consumer and business billing transactions in 2005. Jupiter Communications predicts 2 billion online bill deliveries by 2003, with 18.4 million households paying their bills online.