Utility payment systems enable consumers to pay their bills through multiple methods. These methods include eStatements and text-to-pay, which reduce paper and improve the consumer experience. Additionally, integrated voice response allows consumers to ask questions about their bills and payment status.

Many utilities struggle with high customer churn due to inefficient processes for managing invoice delivery, consenting to e-invoices and enabling automated payments. In this article, we will look at how the use of a payment solution can help overcome these challenges and allow consumers to engage with their utilities in ways that improve the entire end-to-end billing and payments experience.

To maintain bill payment instructions, click on the ‘Utility Bill Instruction Capture’ button in the Application tool bar. The adjoining option list displays all valid branch codes maintained in the debit account for the customer ID you have selected. Select the appropriate one. You can also specify how many times the bill payment instruction should be re-tried within the specified execution frequency, in case it fails to be executed.

Alternatively, you can define a product for each type of bill payment that your bank processes for the utility provider, and map all the details mentioned above to it. Whenever you process any actual transaction in favour of the utility provider for which you have defined the product, Oracle FLEXCUBE automatically applies all attributes and specifications made for that product. You can capture up to five entities for this purpose. utility payment system