Electronic Invoice Presentment and Payments

Electronic Invoice Presentment and Payment (EIPP) or Electronic Bill Presentment and Payment (EBPP) is the sending and receiving of digital invoices and payments. Typically EIPP refers to commercial or B2B transactions, while EBPP refers to consumer or B2C transactions. The Credit Research Foundation (CRF) recently conducted a survey of its members and a select group of US and Canadian-based credit professionals. According to the survey, 85% of those who are using the technology are using it for presentment of invoices to business customers, while 63% are using it for receipt of payment from business customers. While still relatively new, EIPP appears to be coming and coming fast. The CRF survey reveals that for those who are currently employing EIPP, the lack of a single standard is a major problem in getting billing and payments processed between vendors and customers using different systems.