Customer Acceptance is the Key to Success of Electronic Bill Presentment and Payment

This thesis focuses on issue of broaden Customer Acceptance in Electronic Bill Presentation andPayment (EBPP). Following the overview of EBPP’s concept, benefit, snapshot of the overall marketplace, the thesis studies the current existing models with it’s entity, process, and relationship. The important part of the thesis is to explore the main elements to one of the key barriers of EBPP, Customer acceptance according to TAM (Technology Acceptance Model) and Diffusion of Innovation Model, and provides the several key solutions to broaden Customer acceptance of EBPP. The thesis concludes with pointing out the limitation of this thesis and the suggestion of possible future research and looking forward to the future market of EBPP. Thesis contains five chapters. The CHAPTER I. INTRODUCTION defines the EBPP is the delivery of bills from Billers to Customers mainly through Internet; reviews the benefits to the both Biller and Customer; realizes the EBPP’s potential market growth with current low’adoption rate tepid the EBPP deployment. The CHAPTER II. ENTITY, PROCESS, AND RELATIONSHIP OF EBPP MODELS studies the six entities of EBPP, included Biller, Biller Service Provider, Biller Payment Provider, Customer, Customer Service Provider, Customer Payment Provider, and process of EBPP with Service Initiation, Bill Presentment, and Payment and Remittance. The complex process with a range of models, which include direct, consolidator, and syndicator is discussed. CHAPTER III. EXPLORE THE ELEMENTS TO AFFECT CUSTOMER ACCEPTANCE TO DEPLOY EBPP points out that low Customer acceptance impedes EBPP growth, studies the EBPP literature and user acceptance model in MIS, and explores the four factors (usefulness, ease of use, observability, and risk) and related elements affect the Customer acceptance, which are Customer low awareness, lack of a compelling reason, lack of incentive, trust and risk, uncertainty about security and privacy, inaccuracy and unreliable, difficult to use, bank slow react, legal issue, standard, and poor Customer service. CHAPTER IV. SOLUTION ANDSTRATEGY TO BROADEN CUSTOMER ACCEPTANCE OF EBPP suggests six solutions to broaden the Customer acceptance, which are chose right model, build solid EBPP system, chose a right vendor, and provide good Customer service, make aggressive marketing approach, and be proactive bank and Biller. CHAPTER V. CONCLUSION provides the overall of future market of EBPP

Will online bill payment spell the demise of paper checks?

Over the past several years, the emergence and adoption of electronic payment instruments have acutely affected check usage. This transition has been especially evident at the point of sale as debit and credit cards have become pervasive. Today, the rapid growth of online bill payment looks to threaten checks’ last redoubt. However, bill payment technology is still in its adolescence; the interplay of many stakeholders in the industry, including technology firms, banks, billers, payment cards, and customers, has led to rapid, unscripted innovation in just a few years. This paper quantifies some of the trends in the industry while addressing the interests and impact of the market’s prime movers in an effort to determine to what extent the displacement of checks will continue.Electronic funds transfers ; Checks ; Internet banking

Taking payments online: A framework for selection

Electronic bill presentment and payment (EBPP) is usually viewed as a killer application in e-commerce, which will fundamentally change the way customers receive and pay their bills. While many models exist, there is a dearth of information for determining which model would best fit customer characteristics and needs. This paper examines primary models, customer requirements, bill characteristics, and customer types to develop an exploratory framework for determviing which EBPP model a bill-generating firm should employ

User perceptions of the benefits of implementing an ERP system: A case study

Given the large time and fitiancial commitment that an ERP project requires and the potential benefits it can offer if successfidly implemented, it is important to understand the factors that facilitate and inhibit the success ofEP,P implementation. By means of a case study of a global energy company, we first examine the factors that facilitate and inhibit the success of their ERP implementation. We draw on the theory of business process change when analyzing the implementation process. Next, we examine the perceptions non-management professional users of the ERP system (who were not members of the ERP implementation team) have of the ERP system. The data for this part of the study was collected through a survey of nonmanagement professional users of an ERP system, 6 months after implementation

Electronic payments in the U.S. economy : an overview

Business publications are filled these days with stories about the digital or electronic economy. One routinely reads about e-commerce, e-business, and e-banking. Terms such as e-mail and e-tickets have entered the common lexicon. Some analysts have gone so far as to proclaim that the U.S. economy is being fundamentally transformed and is entering a "new age" of unparalleled growth and opportunity.> While such a view is open to debate, clearly some major, potentially far-ranging, changes are under way. The most visible and most dramatic involve e-commerce. A growing amount of economic activity is taking place on the Internet, directly or indirectly impacting households and businesses throughout the economy. Less visible, but also significant, are changes involving "e-payments." Although the U.S. payments system continues to rely heavily on paper-based methods, cash and checks, for conducting transactions, electronic payments are steadily gaining a greater presence.> Weiner provides an overview of e-payments as they currently exist in the United States. He shows that the U.S. payments system is becoming more electronic, principally through traditional means. While new instruments are beginning to emerge, it is the traditional e-payment types--credit cards, debit cards, and ACH transactions--that are driving the U.S. payments system forward.Payment systems

Nonbanks in the payments system

Nonbanks have always been a key component of the nation's payments system. In recent years, however, nonbanks have become even more prominent. This heightened visibility raises several questions. In which payments activities are nonbanks engaged? What roles do nonbanks play in specific payments types? What types of risk are potentially associated with nonbank participation? This paper begins to address these questions. Preliminary findings include: (1) Nonbanks are involved in a myriad of activities and roles, both in traditional and emerging payments types; (2) Nonbank business relationships with banks and other participants in the payments systems are often highly complex and interrelated; (3) Nonbanks are rarely directly involved in settlement activities and, hence, appear to be associated with limited settlement and systemic risk; (4) Both nonbanks and banks appear to be increasingly susceptible to operational risk factors. ; Published as a book in 2003.Payment systems ; Nonbank financial institutions ; Nonbank activities

Electronic bill presentment and payment

Although various authors have postulated the benefits of Electronic Bill Presentment and Payment (EBPP), penetration of electronic invoicing is in practice still low. The following article investigates the status of European EBPP implementations in B2B relationships. Based on an empirical survey of 27 companies, it provides a state-of-the-art analysis of EBPP implementations in an industrial environment. As with other e-business scenarios, network externalities can serve as an explanation of the relatively low dissemination of EBPP. The article discusses the key decisions related to EBPP which determine network externalities: the choice of the EBPP model, the electronic channel and the invoice formats. Based on the survey results, it derives three stages of EBPP implementation characterised by specific EBPP models, channels and formats. As a conclusion, the existence of hubto- hub connections between EBPP consolidators is regarded as a major success factor for the future penetration of EBPP

Banking relationships of lower-income families and the governmental trend toward electronic payment

In the past three years, the federal government and many states have lowered their costs of administering welfare and benefits programs by expanding the use of electronic payment. These initiatives promise to have their greatest significance, and meet their greatest challenge, among lower-income families, the demographic group with the lowest rate of bank account ownership and the least familiarity with electronic transactions. Although the payment programs do not require a banking relationship, the move to electronic transfer may change the financial practices of many recipients without a deposit account or with no banking relationship at all. For example, they may continue to obtain cash from check cashing outlets and grocery stores, but the attraction of a bank account may become heightened by a federal plan to make special accounts available at depository institutions primarily for the electronic transfer of federal payments. Moreover, the greater use of the banking system by lower-income families could harmonize with the emphasis that welfare reform has placed on asset-building, a goal that may be harder to achieve without the use of a bank account. This article examines the ways in which lower-income families obtain checking and credit services, the effects that the government move to electronic payment may have on these families and on depository institutions, and the promotional and educational efforts that may be needed to facilitate the move of the unbanked to electronic services.Payment systems ; Electronic funds transfers ; Welfare

Scots law and the UK codification of bills of exchange

No abstract available