to the Federal Reserve Bank of Boston, the printing, mailing and delivery
of more than 64 billion checks in USA each year costs about USD 40 billion
which is the equivalent of approximately 0.5% of the U.S. Gross Domestic
Product, the vast majority of these payments are as a consequence of bills
In 1997, the pioneers in electronic Billing in USA processed about 85
million electronic transactions worth USD15 billion for around 2.5 million
merchants at a per transaction cost of about USD0.50 per transaction.
These were restricted to Bills in US Dollars payable to merchants located
in USA (C to B payments) where both the buyer and the seller have to pre-register
with the Billing Company.
BiLL is an Internet based Billing product that is effectively an electronic
Clean Collection. It does not require the buyer or seller to pre-register
and is not restricted to any currency.
Unlike billing systems based on an aggregator model, BiLL is an electronic
clean collection which makes it much faster.
Bills do not leave the banking system for consolidation hence is much
more cost effective.
Bills can be presented in any currency.
Neither the Biller not Billee need pre-register with any company.
Bills can be fully or part paid on or before due date.
Billers can created their own bill templates including graphics such as
their company logo's.
Banks of Billers / Billees can add marketing messages to bill presentations
and generate Advertising revenues or mileage for the banks.
Structured Bill Formats
Bills are presented in a structured format allowing interface to XML based
electronic documentation systems such as Bolero.Net
BiLL supports both thin and fat clients allowing both Billers and Billees
to choose between the simplicity of a Thin Client and the flexibility
of a Fat Client.
Multiple Billee Capabilities
BiLL allows Billers to create bills for any number of Billees using a
single entry screen making is useful for huge corporations.
Microsoft Excel Interface
BiLL interfaces to Microsoft Excel allowing Billers to import data from
an Excel spreadsheet and create thousands of bills with a few mouse clicks.
User definable billing instances
Any number of Payment instances can be set up and parameters controlled
for each instance. Transactions generated using the instance will conform
to rules set up .
User Defined Charges
Institutions can set up absolutely any type of charge structure using
Bankstar's Rule Designer. Charges can be set up to be payable by the Payer,
Payee or both.
Interface to PAY
BiLL is interfaced to Bankstar's internet payment package PAY. When a
Billee gives payment instructions, PAY will remit the funds and a Biller
will receive clear funds in minutes.
Interface to TEST
BiLL is interfaced to Bankstar's testkey package, TEST. TEST will generate
a testkey for Any payment transaction which requires one.