Nexbillpay Offers eLockbox Payment Processing
Nexbillpay now converts paper checks into electronic payments
BIRMINGHAM, AL – Nexbillpay is pleased to announce the availability of eLockbox solutions to streamline consumer payment services for its customers. eLockbox is a game-changer because it saves time and improves efficiency for rural utility companies. With traditional check processing, customers wait up to two weeks for their payments to be processed. With eLockbox, however, the processing time is cut down to 1-2 business days.
Designed to accommodate electronic receivables processing needs, eLockbox consolidates consumer payments made through their banks’ online banking (Financial Institutions) and other bill pay services (DOXO). Funds and posting data are then delivered electronically by Nexbillpay.
Rather than allowing transactions to become slow-moving bill pay paper checks, posting data is integrated with utilities’ Accounts Receivable software, which results in fast, straight-through processing that maximizes efficiency.
Amy DeBerry of Kingwood Water Works says, “Before Nexbillpay, we were processing an average of 3,500 paper check payments monthly from our customers’ banks and other financial institutions. Our clerk would have to open and manually process all payments sent to us by banks when customers used their online banking system. This caused a lot of confusion for our customers because it took several days to receive the payments by mail, causing our customers’ payments to be late and even putting them on the disconnect list.”
“Now, with Nexbillpay’s e-lock box solution, payments are posted to the customer’s account in a timely fashion, and we receive our funds electronically,” continues DeBerry. “In addition, Nexbillpay has also given our customers the option of paying online, in the office, via text, or by telephone.”
When compared to paper bill processing, eLockbox is more efficient, flexible, and easier to use. Through the conversion of paper to an electronic workflow, rural utility companies can now spend more time taking care of their customers and providing important services to their communities and less time on paperwork and processing checks.
Continues DeBerry, “The training and integration team are top-notch. Nexbillpay made this process easy and understandable. I would recommend Nexbillpay to any organization looking at making a positive change with processing payments.”
Nexbillpay, serving over 800 utilities in 22 states, is a trusted and proven payment and notification platform designed to address the unique business needs of all size utilities while at the same time offering security, flexibility, and optimal value. Our integrated platform taps into the power of any utility billing solution by providing a branded customer portal with simple account creation, linked accounts, 12 months of payment history, account verification, usage/consumption, bill amount and payment amount graphs, preferred payment storage options, one time/auto-pay options, SMS automated payment notifications/reminders, and built-in instant communication tools.