Electronic billing
Encyclopedia
Electronic billing is the electronic delivery of invoice
s (bills) and related information by a company to its customers. Electronic billing is referred to by a variety of terms,including the following:
While there are current efforts to standardize systems for electronic billing and invoicing, there is currently a wide variety of options for businesses and consumers. Most fall into two categories:
Increasing acceptance of e-billing by consumers and the business community (according to Kiplinger magazine, 77% of business owners now favor electronic billing),as well as increased concern for security and the environment, is speeding up the shift to electronic billing from paper billing.
Invoice
An invoice or bill is a commercial document issued by a seller to the buyer, indicating the products, quantities, and agreed prices for products or services the seller has provided the buyer. An invoice indicates the buyer must pay the seller, according to the payment terms...
s (bills) and related information by a company to its customers. Electronic billing is referred to by a variety of terms,including the following:
- Electronic bill paymentElectronic bill paymentElectronic bill payment is a feature of online banking, similar in its effect to a giro, allowing a depositor to send money from their demand account to a creditor or vendor such as a public utility or a department store to be credited against a specific account...
- EBPPEBPPElectronic billing is the electronic delivery of invoices and related information by a company to its customers. Electronic billing is referred to by a variety of terms,including the following:*Electronic bill payment...
— electronic bill presentment and payment (typically focused on business-to-consumer billing and payment) - EIPP — electronic invoice presentment and payment (typically focused on business-to-business billing and payment)
- "e-billing"
- "e-invoicing"
- "electronic invoicing"
- ePayables
- eInvoice
- Telecommunications billingTelecommunications billingTelecommunications billing is the process of adding together rated calls or services for a certain user or group of users, applying discounts and preparing the data for invoicing.Billing is also the name for the entire process of creating an invoice...
While there are current efforts to standardize systems for electronic billing and invoicing, there is currently a wide variety of options for businesses and consumers. Most fall into two categories:
- CSPs (customer service providers) which allow a business to invoice clients electronically
- bank aggregators, which allow consumers to pay multiple bills, typically through their bank
Increasing acceptance of e-billing by consumers and the business community (according to Kiplinger magazine, 77% of business owners now favor electronic billing),as well as increased concern for security and the environment, is speeding up the shift to electronic billing from paper billing.