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What is Bill Payment Service?

Service Providers like Telephone, Electricity, Cell Phone, Insurance etc, render their services to the consumers. In return, they charge the consumers for their services. This is generally done on a monthly basis (the periodicity may vary for each service provider) and the bills are sent to the consumers' registered address.

Each of these consumers is given a 'bill due date' by which they are expected to pay their bills.

These Service Providers also give them various payment options (like payment by Cheque, Demand Draft or Cash etc.) as well as payment channels (like Collection Centres, Drop Boxes, online channel etc.).

Why offer Bill Payment Service?

Recently various banks have taken the initiative of offering Bill Payment Service to its customers. These initiatives have been undertaken from the perspective of -

	Offering value-added services to its customers,
	Increase interaction with the customers, and
	To move up the ladder of customer relationship management.
	Maintain competitive edge vis-à-vis other banks.

What do the banks need to do to offer Bill Payment Service to its customers?

Before a bank can offer the Bill Payment Service to its customers, it has to undertake certain developmental activities, like -

	Having legal and formal agreements with each of the utility service providers.
	Develop the channel(s) of bill payment, through which the customers will be able to pay their bills. For example, bill payment through Internet, ATMs, Telephone, or even by placing Drop-Boxes at the bank's premises
	Developing the requisite software to process the payment instructions
	Installing the necessary hardware to run these bill payment softwares.
	Having a processing team to manage the backend operations and day-to-day maintenance.
	Last but not least, investing in necessary infrastructure to give shape to this activity.

Given today's fiercely competitive market, the speed-to-market your services become an extremely critical factor to arrive at a 'make or buy' decision.

While the banks may have the requisite technology and manpower to offer this service on their own, they realize that gestation period may be too large to give them any first-mover advantage. At the same time, this service can be best managed in the hands of 'Domain Experts' - people who specialize in this service.

How can Tech Process ASPEM help ?

Tech Process ASPEM (Application Service Providers Executioners and Maintainers) is a service that will enable your bank's customers to pay all their utility bills (Electricity, Telephone, Mobile, Credit Card, Insurance, Taxes and more) through your bank's …

Website
ATMs
Call Centre
Mobile
Drop Boxes

It's a service that your customers will love for the convenience and ease that it offers to them. Besides, you get to earn their tremendous goodwill that will help you deepen your relationship with your customers. Some of the banks even charge for this service, and hence this service has a revenue stream built into it.

ASPEM integration will enable Banks to offer Online bill presentment & Payment service to its customers through its own website / ATM network and other channels of delivery. When banks today, are looking at providing value added service to their customers, bill payment should be one of them as it would not only help banks to improve their customer satisfaction index, but also provide a effective tool of further customer acquisition.

Tech Process Solutions Ltd. provides a quick-to-market offering that leverages on our proposition for your bank's customers. ASPEM will strengthen your bank's offering, drive traffic to your banking channels and increase customer satisfaction at no resource cost to you.

Besides, Tech Process ASPEM processes the backend. The front-end 'Look-n-Feel' as well as corporate branding remains that of the bank. This ensures that the customers continue to enjoy the brand experience as provided by your bank.

Service offerings from Tech Process include online as well as offline bill presentment and payment service to the customers of the bank through multiple channels.

Tech Process offers multiple channels of delivery for your bank as per your convenience and requirement. For example, your banks customers can avail the facility of bill payment through multiple channels like Internet / Telephone (IVRS or Call Agent) / Mobile / ATMs / Drop Boxes etc.

	Internet: Internet as a channel of bill payment is gaining prominence among most of the net savvy customers of the new age banks. Bills are presented to your customers through the Internet where they can view their bill details online. Regular E-mail alerts and bill due date reminders are sent to the customers for the bills to be paid by the users. E-mail confirmations are sent to the customers after their bill has been paid. Internet also give the facility of online storing of customers utility bills, which can be used for any future reference by the user. Thus Internet gives flexibility, convenience and control over an individual's bill payment needs. Tech Process Solutions Ltd. can offer this facility to your customers through your bank's website, ensuring your bank's corporate branding.	Internet
	ATMs: ATMs have become an extremely popular channel of banking with the customers of most of the banks today. ATMs offer 24 hr banking for the account holders for various services. Tech Process Solutions Ltd. can power banks to offer bill payment service through its network of ATMs. Account holders will be able to check the bills due, and will be able to pay bills through the ATM terminals. ATMs offer huge convenience to your customers, and with bill payment service as an additional service, banks can make effective use of their existing infrastructure by offering bill payments to its account holders at no added infrastructural cost.	ATMs
	Telephone (IVRS or Call Agent): With telephone penetration among the Indian population growing rapidly, it is the need of the hour that telephones are used to provide value-added services to your customers. Bill Payments over telephone is one of such services that Tech Process Solutions Ltd. can offer to banks. Tech Process Solutions Ltd. provides IVRS as well as Call Agent based service to banks, which could be provided to your bank customers.	IVRS or Call Agent
	SMS (Mobile): Imagine paying your bills through your Mobile phones just by sending an SMS. Mobile phones, today have become such an important component of urban life and SMS has widened their scope by not just making them a device to communicate but also to transact. Tech Process Solutions Ltd. offers SMS based bill payment module to banks, which can be used by the customers to pay their bills just by sending an SMS.	SMS (Mobile)
	Drop Box: Banks can also offer bill payment service through Drop Boxes. This facility will enable your bank's walk-in customers to just drop their bills at the Drop-Boxes kept in the premises. Moreover, this facility will be greatly appreciated by that section of your customers who do not have access to the Internet and would feel more comfortable using a conventional mode of bill payment.. Tech Process Solutions Ltd. can extend the Drop Box facility through its ASPEM product to the banks, where banks can offer the same to its account holders. All that the customers will be required to do to pay their bills is to drop the bill-payment slip along with the bill into the Drop Box. The Drop-Boxes will be cleared daily by Tech Process Solutions Ltd. and the payment instruction would be processed	Drop Box