The customer saves money, the business saves money and the bank gains more deposits. Mark Boyer, manager of technical services and marketing at Three Rivers Electric Cooperative at Linn, said the co-op is participating in the new bill payment system. Boyer said the new system is ideal for a utility. A bank draft authorization doesn't work because the amount of the electric bill varies each month. Boyer said customers can use a credit card to make monthly Three Rivers electric bill payments and soon will be able to pay by checks as well.
Customers also can elect to receive their bill via email rather than by a letter.
The ACH origination system provides a clear, quick way for customers to pay their bills, invoices or accounts payable directly through the Internet via merchant web sites that are equipped with the new program. The Merchant can control when the Internet check transactions will be originated. This could occur multiple times a day, once a day, once a week, once a month, etc. The application also allows the customer the freedom to pay with an electronic check at their pleasure instead of bank draft authorizations. Lueckenotte said RMI is using EBPS software for convenience to their customers to make loan payments via the Internet.