Paying Bills Online
In the past, paying bills require the client or customer to go to his respective service provider, signing through checks and receipts, and handing over the cash or check to a teller or cashier. Nowadays, it is much easier, and more convenient, too, especially for the busy career man or woman who typically has no time aside from weekends to do other stuff besides work. In the olden days, this can be quite a pity, as most service providing companies are usually open only on weekdays, during office hours. But now, thanks to the World Wide Web, not only are people able to access information from all parts of the globe, they get to pay bills without having to leave their work desks as well.
How is this done? This is achieved through what is called the bill payment software. Bill payment software is basically what allows service providing companies to get paid over the Internet. It also allows their clients to check their bills online and pay these through a number of payment options. So, how does the bill payment software work? Here is how:
1. The customer applies for a service, say, subscription. He is presented with various payment options, including the bill payment software. Now, if he wants to pay for the subscription via the Internet, he just chooses to pay through the bill payment software.
2. The customer inputs his information on the software. Typically, this consists of his pertinent personal details, the service he has applied for and his preferred payment option. Once these pieces of information are complete, the customer is informed that he has built an account with that software.
3. The customer can now check, pay, or choose to unsubscribe to his subscription with the company by logging on to the bill payment software site and his account.
Bill Payment Options
So, where would the payment come from in this system? Here, the payment method should be chosen from among the payment options that the company has presented in their software. Among the most common bill payment methods incorporated in bill payment softwares include credit or debit cards or bank accounts. Here, the customer will just have to provide his credit or debit card or bank account numbers and information to the software. And then, whenever payment is due, the company will just have to deduct the amount from the card or bank account that the customer has provided. However, customers usually have a problem with this system because of the threat of theft so rampant on the Internet. But now, thanks to technological advancements, there are now third party payment method providers that allow customers to give out their financial information not more than once. And the good news is, most companies already consider third party systems legitimate, so customers can now pay online through bill payment softwares more safely.
On The Company Side
On the side of the company, this kind of system also provides for more flexibility and convenience. Paper works are lessened, and whenever new services are introduced, the finance department no longer has to issue a whole new set of money orders, receipts and invoices. All they have to do is to program the new information on their software.