BNY Mellon launches e-bill solution

Displacing the inefficient and antiquated process historically used to handle the majority of the 15 billion bills paid in the US annually, this capability enables US-based businesses to present digital bills to their consumer clients in real-time and receive instant payment via the consumers’ preferred online and mobile banking channels. This solution delivers ubiquitous digital capabilities that will improve end-to-end payment interactions. Businesses can leverage real-time integrated messaging through application programming interfaces (APIs) to provide instant, end-to-end straight through processing from bill-presentment to payment to reconciliation. Banks can also leverage this solution for their own clients via BNY Mellon’s white-label offering. These e-bills will be sent over the RTP network operated by The Clearing House. 

The key advantages for billers include higher straight through processing levels, faster collections, simplified reconciliation, increased transparency, and lower costs. Their consumer clients gain greater convenience, transparency, and control of their cash flow. Additionally, e-bill technology represents a substantial advance in efforts to protect the environment, diminishing the negative impacts of paper-based processes.