The Only Online Bill Pay Solution Your Merchants Need

Electronic Bill Presentment and Payment (EBPP) is quickly becoming a business essential. Customers and clients expect to be able to view, track, pay, and manage bills online — it’s the norm.

We’re not just talking traditional retail eCommerce. A whole range of business-to-consumer and B2B professional services can benefit from the ability to invoice and receive payments online. However, many merchants have not implemented this time- and cost-saving functionality. Why? Simply because integrating eCommerce functionality into existing websites and systems can be costly, disruptive, and complex for midsize organizations.

If only there was a turnkey, plug-in solution.

Well, now there is: Veracity Invoice Presentment System (VIPS).

Introducing VIPS

VIPS is a full-featured electronic invoicing and payment system that gives your merchant customers a powerful, user-friendly solution for online billing and payments. It’s easy to set up and delivers benefits to both merchants and banks.

The system was commissioned and custom-developed by Veracity for midsize and large merchants who invoice customers to pay for products and services. These can be regular or irregular payments, one-offs or recurring, and use any type of payment method — including virtual terminals and card readers, standalone terminals, and mobile payments using smartphones or tablets.

VIPS is an invoicing and financial management breakthrough for service professionals such as accountants, legal services providers, dental/orthodontia practices, physicians, healthcare providers, assisted living caregivers, and property managers.

Merchants create and send invoices to VIPS for pickup. These are then made available for presentment and payment by their customers who, in turn, use the portal to enter payment. The entire setup is almost infinitely configurable and customizable and is easily integrated with existing financial and data management software.

Four Portals

The system is built around four hierarchical online portals:

1. An admin portal, which provides access to the user’s entire customer base and payments.
2. A merchant-facing portal that enables companies to configure settings for their subsidiaries, agents, and payers.
3. A biller portal, which these subsidiaries and agents use to configure settings and manage payments from customers.
4. A consumer-facing payer portal that allows customers to log in, review invoices, make and manage payments, and review their payment and invoicing history.

Benefits

Introducing VIPS to your merchants will not only strengthen your relationship with them as an added-value solution provider, it will also streamline their financial management and improve their business prospects — all good signs for partner banks.

Merchants gain a whole stream of benefits including:

• User-friendly access to data and customized reporting, including real-time reviews and transaction history. Reporting can be consolidated for multiple offices and locations.
• Ability to import data files into management software in Excel^® or CSV formats, eliminating the need for double-posting payments.
• Ability to deposit payments into multiple accounts, distributing payments according to payment method if required. A good example of merchants who need this function would be attorneys who need to separate operating and trust accounts.
• Availability of a debit-card filter allowing only use of debit cards. This includes the required update of the Bank Identification Number range table.
• Integration with other software products. For example, the solution can pass patient data to orthodontia practice management software for appointment management.

All of these benefits are strengthened by two further critical features: the secure storage of client payments data and the support of Veracity’s award-winning 24/7 technical and customer service helpdesk.

VIPS is a giant step forward for your midsize organization customers. This easy, complete solution integrates seamlessly with existing systems and helps them work more effectively with you … all, of course, fully supported by Veracity.

[cta]Find out more on how VIPS can benefit your merchants. Contact us at 866-944-0055 or by email.

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