Ecuador’s National Telecommunications Corporation (CNT) has introduced the electronic billing service. The e-invoice, or better: electronic bill provides data on fixed telephony, fixed internet and satellite TV (DTH) consumption.
Communications Service Providers in Ecuador that want to use e-billing, must first create the e-invoice and store it in a data file. Then, a digital certificate needs to be signed, the content is encrypted and the digital stamp is added. The end-user receives the e-bill in its e-mail in two files: one with the invoice in XML format and another that contains tax information.
Because of the EU SEPA deadline, as from 1 February 2014 the vendors will manage the direct debit mandates. From years on the banks was the repository of your direct debit mandates.
And that’s asking for trouble. Consumers will have to create and keep up separate login accounts logins. Trust will decline. And then the same thing happens as with digital document exchange like e-billing and e-invoicing: everyone goes his own way and the consumer loses overview. It could mean that many consumers might well withdraw their direct debit mandates and opt for other payment methods.
Top Image Systems’ technology will enable the bank’s customers to deposit checks using the camera on their mobile device. MobiCHECK ensures the capture of high-quality check images, validates both images and data on the handset and integrates smoothly with the mobile banking platform of choice.
Deploying MobiCHECK, the bank gains both efficient, economical check processing as well as higher customer satisfaction and retention. In the current deal the bank selected Top Image Systems for its global banking experience, proven technological capability and the maturity and readiness of its packaged mobile solution.
At the end of September Basware announced their exciting partnership with MasterCard to combine payment processes with electronic invoicing network. By combining their skills, expertise and networks, they are able to bring great value to businesses of all sizes and economies around the world.
As this infographic shows, this will boost cash flows and financial confidence – and ultimately help the world economy to grow. As you can learn from the interview videos, their joint offering can help to mitigate fraud and other impediments to cash flow.
E-invoicing and e-billing may have their benefits. However issuing paper bill penalties to force your customers into electronic invoicing and online billing is just a big fail. And if you persist you could potentially end up losing your mobile phone license. Even more serious: millions of households face financial problems because of scattered online bill platforms. And it becomes more and more clearly that companies do not use paper bill penalties just to make you switch to e-invoicing (B2B) of e-billing (B2C). In fact, the there are companies that keep charging for bills or monthly statements and bills without you being able to stop receiving them. Why? Because they earn extra money. A new cash cow is born! Hampering e-invoicing adoption.
Read MoreAre you not ready yet for SEPA? Or just about to, but you don’t know for sure to meet the 1 February deadline? Or maybe you haven’t put SEPA on your agenda yet? Rest assured, you are not alone. A PWC SEPA Readiness Monitor shows that many companies like you face the same problems.
Many companies don’t know if or when they are SEPA ready. However this doesn’t change the deadline of 1 February 2014: if your company isn’t ready by that date, there’s a big chance that you won’t be able to receive credit transfers or pay your bills. So, make sure to have a Plan B. Want to know how?
It is probably one of THE most important trends in e-invoicing: getting your invoice paid sooner upon approval, whereas you buyer’s payment term is extended in the meantime. Not so long ago Tradeshift started a similar initiative with CapitalAid. And now Basware and MasterCard take the stand.
Initiatives like this one by MasterCard and Basware can really transform the way that companies do business with each other through this new single global payment solution. The result: immediate cost savings, efficiency gains, improved liquidity and less bankruptcies.
More and more companies are forcing their customers towards online bills. Because your suppliers themselves can save so much by discarding paper invoices. And if you still wish to receive one, you now suddenly have to pay for it. Big time! As if you are the cause that a paper bill suddenly has become a pain in the proverbial bottoms and you have to pay for the inconvenience of having them send a paper bill to you. If this strikes you as a bit strange, you have to hold on to your seat. Because it doesn’t stop at your suppliers forcing you to check in at dozens of different online portals and forcing you to pay a penalty for paper bills. You now even have to pay a penalty for online payment methods. OMG!
Read MoreMore specifically, TIS was included as a “Sample Vendor” in the Mobile Commercial Remote Deposit Capture and Mobile Consumer Remote deposit categories listed in the “Hype Cycle for Digital Banking, 2013” by Gartner. Top Image Systems’ mobile content processing solutions are fully integrated with its industry-leading eFLOW(R) multichannel intelligent content capture, workflow and delivery platform.
Gartner sees huge opportunity for growth and innovation in the digital banking space through 2013 and beyond. In this hype cycle, one technology stands out as having accelerated significantly along the Hype Cycle through 2012 and early 2013: mobile consumer remote deposit.
The two former employees of Cox Communications had access to the company’s electronic invoicing system that tracked payments to third parties. Prosecutors say that the two had manipulated the invoicing system in such a way that the company would actually issue duplicate payments to the third parties. These payments were then funneled into bank accounts each of them had control over. Officials say that this method allow the two to steal stole more than $943,800 from the company. One of the accused already pleaded guilty to a count of wire fraud.
This is just one of these cases that should be a BIG wake up call for all of us. Some say that for every crime solved, ten crimes remain undiscovered. Ouch!
