Online bill pay checks are not accompanied by a remittance coupon, they are printed in a variety of formats. Consequently, it is difficult for billers to reconcile these checks to their billing and accounts receivable systems.
Online bill payments currently amounts to 50 percent of all bill payments made by the US households with internet access, Fiserv’s 2011 Consumer Trends Survey has unveiled. Two popular methods include paying via an online banking website and paying through an online bill payment service, such as MyCheckFree.com.
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