Billing automation using all sorts of payments channels is happening world-wide, here are a few of the latest examples:
- UK-based global B2B e-invoicing network operator OB10 has entered a partnership with Mexican e-invoicing company Buzón E to provide e- invoicing services in Mexico (February 2012)
- the Cashless Policy of the Central Bank in Nigeria with cooperation with the twenty-four money deposit banks (MDBs) in the country is automating payment for goods and services at a rapid rate. Latest example is Interswitch's e-payment solutions, including Paydirect, Autopay, Direct Debit, Verve Card, Quickteller, Webpay and Smartgov in Nigeria (2012)
- invoiceASAP released a new version of its mobile invoicing and payments platform in USA. This is the first launch of a mobile invoicing payments platform that can synchronize with QuickBooks and QuickBooks Online as well as accept credit card payments by digital camera scan. (15 March 2012)
- m-hance, one the UK's providers of business software solutions to mid-sized organisations, announces the launch of eInvoicing, its new cloud-based invoice processing solution(21 March 2012)
- Western Union has revealed new WU Pay platform will allow on-line shoppers in the US to pay for on-line purchases from their existing bank accounts or in cash at Western Union agent locations.(22 March 2012).
The number of payment channels is growing almost daily as mobile phone companies, banks and third parties launch new services. Increasingly, consumers willing to pay their bills by mobile devices - mobile phones, and tablets. (A recent Juniper Research report "Mobile Banking for Developed Developing Markets" estimated that 1 in 10 mobile users will pay their bills by mobile devices by 2016.)
E-invoicing has become essential. The only choice is whether one e-invoicing provider will suffice or do you need more to achieve full regional and/or global coverage. Then do you need to combine this with a payment platform in a Purchase-to-Pay solution or will a separate payment platform(s) be more effective. There is no clear winner here, just a growing number of solutions which will be reviewed in the Cash Treasury Management File.
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