Bank One Corporation, the nation’s fifth-largest bank and the second largest provider of collection products, recently introduced two internet-based services that present bills and collect payments in both the business-to-consumer (B2C) and business-to- business (B2B) environment.
Called the One Electronic Billing Service and the One Electronic Invoicing Service, Bank One’s new services expand its collection product offerings while continuing to support its strategy of enabling customers to migrate from paper to electronic-based transactions.
By offering both B2C and B2B options, Bank One can provide its customers the optimal electronic presentment and payment solution based on a company’s unique billing and collection needs. Also, both services enable Bank One’s large corporate, middle market and net marketplace customers to experience even greater productivity gains and cost efficiencies in collecting and processing payments while enhancing their emerging e-commerce initiatives.
“In today’s emerging e-commerce environment, we feel it is critical to support our customers’ transactions from end-to-end, for the entire payment or procurement cycle, whether it is initiated by paper, or on-line,” says Bob Wilson, senior vice president of strategy for the bank’s Treasury Management Services. “Adding these two innovative, high quality services to our product portfolio expands the value we bring to our customers in meeting their needs, no matter how far along they are in implementing an e-commerce strategy.”
The One(R) Electronic Billing Service, which supports business-to-consumer transactions, is powered by Billserv, Inc., the leading Internet bill presentment and payment Outsourced Solution Provider. This service enables the bank’s commercial customers to present bills and other documents to consumers on-line through multi-channel distribution, receive payments electronically, decrease the cost of bill and payment processing, support web-based interactive customer service and distribute cross-sell marketing messages.
The One(R) Electronic Invoicing Service, which supports business-to- business transactions, is powered by BCE Emergis, a premier provider of B2B e-commerce services and exchanges. This service enables commercial customers to present invoices online, reduce the float time between sale and payment and decrease the cost of the invoicing, payment processing and customer service delivery. In addition, it enables their customers’ trading partners to view invoices over the internet, dispute entire invoices, sections or line items, download invoice and disbursement information, and interact with their supplier’s customer service and accounts receivable departments.
Bank One Corporation (NYSE: ONE) is the fifth-largest bank holding company in the U.S., with assets of more than $265 billion. Bank One offers a full range of financial services to large corporate and middle market commercial customers and retail consumers. It is the largest Visa credit card issuer, the third largest bank lender to small businesses, and one of the top 25 managers of mutual funds. A leader in the retail market, Bank One operates more than 1,700 banking centers and a nationwide network of ATM’s. Bank One can be found on the Internet at [http://www.bankone.com].
Billserv, Inc. (Nasdaq: BLLS) is the leading electronic bill presentment and payment Outsourced Solution Provider that provides billers with a cost- effective outsourcing solution for presenting bills to consumers for payment on the Internet. Billserv, Inc. serves an intermediary role between billers and bill aggregators by consolidating customer billing information from multiple billers, and then securely delivering it to aggregators. Billserv, Inc. has five product offerings: eServSM, Internet billing clearinghouse services for EBPP; ePublishingSM, electronic publishing services for online statement delivery; eCareSM, an interactive customer care center operation, eConsultingSM, professional consulting services for billing organizations offering in-house bill presentment, and ASP Gateway Services, a service that provides billers who already have an in-house EBPP system with limited distribution points, a solution to deliver e-bills to virtually any distribution point across the Internet. Billserv, Inc. also owns bills.com, the first Internet portal dedicated to EBPP, where consumers can pay all their bills electronically.
BCE Emergis (TSE: IFM), a premier B2B e-commerce infrastructure provider, strategically focusing on market leadership in the transaction-intensive eHealth and financial services sectors. By layering technologically advanced e-commerce services on existing Internet-based platforms, Emergis offers its customers increasing value in their e-commerce adoption and ever-increasing levels of sophisticated services. These scalable solutions electronically transform business processes, such as buying, selling, invoicing and payment, and enable companies to succeed in the web-centric, cost-driven, and highly competitive global Internet economy. BCE Emergis’ customers include leading North American banks and insurance companies. The Company’s shares are included in the TSE 100 composite index.