Expedited payments vs BillTrust vs CenPOS EBPP EIPP

If you’re considering jumping into expedited payments vs CenPOS Electronic Bill Presentment & Payment (EBPP), also known as Electronic Invoice Presentment & Payment (EIPP) read on. I received an email blast today that included link to download a study about expedited payments. The goal of both systems is to enable immediate payment for a bill. In the case of utilities, this can be critical to enable turning on or preventing the turning off of a service.

Bookmark or favorites this page, download the expedited payments article, read and then jump back here.

expedited payments

OK, you’ve read the study right? How much do you think it will cost to use an expedited payments solution? Installation and set up? I’ve paid my bills online probably since the first time it was offered. I consider myself an early adopter of technology. In business and personal I have exactly ZERO customers or vendors using ANY expedited payment solution remotely like this. I do have one vendor using Freshbooks and another using BillTrust. This type of service will grow.

Let’s compare any other solution to our CenPOS EBPP solution.

ITEM Expedited payment, PreCash Billocity, BillTrust CenPOS EBPP , virtual terminal, and POS
FEATURES
accept credit and debit cards yes yes
ACH yes yes
wire no yes
pay in store & pay in cash varies yes
requires payor to login to pay yes no
push invoice to customer varies yes
dashboard reporting with key metrics by any merchant group set up no yes
automated interchange optimization to lower payment processing fees no yes
automated email if bill not paid if available, fixed 30 day yes, flexible interval
automated credit card expiration notification and management module ? yes, automated card updater also supported
FEES
installation $3000 and up; $20,000 + common $199 average
monthly fee ? It’s a lot Minimal
User fee varies none
Mobile set up fee extra free
Mobile use fee extra all fees same regardless of source
Create invoice fee ? No
Deliver your invoices electronically ? Transaction fees, not for invoice delivery
API ? Free

Each of the solutions has something that the other does not. I’ve only touched on a fraction of the features for any of the options reviewed. CenPOS is the most robust and most likely to reduce merchant processing costs. Many new features are in development based on customer requests.