Collecting from your customers is often a time-consuming and frustrating process. Chasing outstanding accounts, managing reconciliations and dealing with reversal of payments are some of the challenges facing organisations and institutions that collect from a large base of bill payers.
Standard Bank’s MyBills solution allows you to deliver accounts to your customers and collect the funds relating to those accounts via a single, seamless, electronic transaction.
This electronic bill presentment feature allows you to now subscribe to have your bills presented electronically to your end customers who have a Standard Bank account.
How does it work?
If you wish to use this solution, simply apply to become an online biller with your transactional banker. The MyBills solution then retrieves bills from your business system on a real-time or scheduled basis. Once retrieved, the bills are automatically matched to each end customer and presented electronically via internet banking.
End customers will also need to subscribe to this service on their internet banking profiles and select which service providers’ bills they would like to receive electronically. They can then access their bills by clicking on the MyBills tab on internet banking. Once presented with an electronic bill, customers then have the choice to accept and pay the bill or to reject it.
Benefits of using MyBills:
Watch this video to find out more