Billers face more challenges and opportunities than ever before. Consumers have − and are demanding − new ways to receive and pay bills. Emerging payment channels and methods seem to arise constantly. In many industries, convenience of payment is a critical consumer need and source of competitive differentiation. Even as payment types are multiplying, receivables operations are being challenged to improve Straight-Through Processing (STP) by eliminating costly payment exceptions like errors and returns. Historically, large billers focused on the costs of payment acceptance and posting, but billers are now increasingly focused on customer satisfaction and retention through convenient payment options that improve ease of payment posting.

This white paper elaborates further on the balancing costs, risks, and client satisfaction when offering consumer payment options.