NACHA's Electronic Billing Information Delivery Service (EBIDS)
NACHA has announced that its "Electronic Billing Information Delivery Service (EBIDS), which speeds up the ability of consumers to receive electronic bills (eBills) at the online provider of their choice, recently began operation. The first transaction was the presentment and payment of a Verizon bill. Verizon is one of the founding participants of EBIDS."
“Verizon believes that the EBIDS model will expand consumer use of electronic bill presentment and payment,” said Angeline DePauw, Verizon director of billing processing. “EBIDS will also improve our work processes and reduce operation and accounting costs.”
EBIDS expands the capabilities of the Automated Clearing House (ACH) Network—a universal, electronic channel with open standards—to include the distribution of consumer bills to financial institutions. Benefits include:
- Increased revenue for banks
- Reduced costs and extended reach for businesses
- Privacy for consumers
- Paperless transactions
“EBIDS securely, safely, and simply accelerates the process of e-billing and payment,” said Steve Ellis, the Wells Fargo executive vice president who chairs NACHA’s board of directors. “By eliminating paper and providing easy access to bill information, EBIDS is a win-win-win: for banks, consumers and businesses.”
The U.S. Postal Service handles an estimated 20 billion paper bills for consumers each years. Using the ACH Network to process paperless eBills is an environmentally friendly alternative.
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