Digital checking payment system
Electronic checks that debit bank accounts.
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Topic Diagrams
EBPP business models
The four EBPP business models for digital checking payments.
Online Banking
- Bank presents and pays bills
- Consumer uses one banking portal
- Bank acts as consolidator
- Example: Chase Bill Pay
Biller-Direct
- Consumer visits each biller's site
- Biller presents and receives payment
- No intermediary
- Example: utility company portal
Consolidator
- Single site aggregates multiple billers
- Consumer pays many bills in one place
- Third-party provider
- Example: bill aggregation services
EBPP (Electronic Billing Presentment and Payment) has four business models. In online banking, the consumer's bank presents and pays bills. In biller-direct, the consumer visits each biller's own site. In the consolidator model, a single third-party site aggregates bills from multiple billers. A fourth mobile model extends EBPP to smartphones.
Explanation: EBPP (Electronic Billing Presentment and Payment) has four business models. In online banking, the consumer's bank presents and pays bills. In biller-direct, the consumer visits each biller's own site. In the consolidator model, a single third-party site aggregates bills from multiple billers. A fourth mobile model extends EBPP to smartphones.