Dollar Bank (Pittsburgh) customers can now receive ebills and make bill payments on the bank's Web site using Electronic Billing Information Delivery Service (EBIDS), an Automated Clearing House (ACH) Network solution that increases the availability of electronic bills to consumers.
"We believe EBIDS can open up new markets for regional and community banks, leveraging the ACH Network and lifting adoption rates for electronic bill presentment and payment across the board," said Jeff Morrow, executive vice president of Dollar Bank.
EBIDS allows businesses to use the ACH Network to deliver electronic bills to consumer online banking accounts for presentment to consumers and to receive authorized credit payments. The banks that present the bills to consumers receive a fee for each bill presented. This makes online bill presentment a revenue source rather than a cost burden for consumer banks. Dollar Bank has already started presenting Verizon ebills to a select group of customers who regularly pay Verizon from the bank's online banking site.
EBIDS is a NACHA pilot designed to demonstrate the technical feasibility and market viability of using the ACH Network to conduct EBPP transactions.
Peggy Bresnick Kendler has been a writer for 30 years. She has worked as an editor, publicist and school district technology coordinator. During the past decade, Bresnick Kendler has worked for UBM TechWeb on special financialservices technology-centered ... View Full Bio