Seeking an EBPP solution that addresses the full bill-to-cash lifecycle regardless of payment channel, Regulus Group todayt announced an expanded version of its ePayments suite.

 

This solution is designed handle both paper and online presentment and payments within the same system, according to the company.

 

Under the solution, billers such as financial, insurance and utility companies can reduce the time required to reconcile customer accounts, as the combined paper and online payment system creates a single-stream file for every customer. Solution users can offer customers total flexibility to pay their bills through the method of their choosing – online, on the telephone or in-person. By simplifying the complete EBPP process through one integrated solution, they can look to money and increase productivity, according to the company.

 

Company officials say that by addressing the full bill-to-cash lifecycle in a single system with a single vendor, regardless of payment method, users can efficiently manage cash flow and float.

 

As the technology of Electronic bill payment grows, consumer preferences for electronic payment channels also continue to grow, according to the company. In 2007, 48 percent of payments were made by non-paper methods, the company said. The Regulus Web site quotes a recent study conducted by Aité Group, a leading independent research and advisory firm focused on business, IT and regulatory issues and their impact on the financial services industry. The study says that the percentage of paperless payments is expected to soar to 64 percent by 2011.

 

The new ePayments Suite is available immediately to new and existing Regulus customers, according to the company. Without any investment in technology infrastructure, expanded selection of e-payments, EBPP and related options can be rapidly deployed and scaled by customers they need it, the company said. Also, the expanded Regulus ePayments Suite integrates seamlessly into the Regulus Transactions2 (T2) suite of end-to-end presentment and remittance software and services. Regulus has selected ChoicePay, a Payment Card Industry (PCI) compliant provider, as its e-payment solution partner based upon the strength of ChoicePay’s technology, security and compliance.

 

“Sophisticated consumers demand multiple payment and presentment options. For example, a customer may receive a paper bill but prefer to review his balance online and pay over the phone,” said Brian Mulford, chief product and information technology officer of the Regulus Group. “We understand that and have designed our EBPP solution to accommodate the broadest range of bill payment methods and channels. Consumers will always prefer such flexibility and together with ChoicePay, we’ll continue to innovate new ways to offer maximum consumer choices while minimizing customers’ management requirements.”