To aid bills settlement and improved customer engagement, CWG Plc, unveiled an e-payment solution called ‘BillsnPay’; a digital bills presentment -payment system with added value offerings, to address payment challenges in the country.
The solution, according to the firm, provides a robust electronic bills presentment and payment service that enhances customer interaction and engagement. This increases the propensity for bills payment by customers whiledecreasing the overhead cost of manual input and followups, especially buying of stationeries and other logistics by billers.
Speaking about the solution in Lagos, CWG’s Product Manager, Temitayo Oduwole, disclosed that BillsnPay takes the hassle of setting up individually hosted and branded sites, off billers and gives their customers a range of features. These include instant access to due bills, ease of making payments, requesting recipts and storing all for future references .
“BillsnPay is a repository of bills from different billers and a centralised portal where consumers can view and manage all their different bills. With BillsnPay, customers can manage and pay their bills, check payment history and also consolidate bills from various biller,” he said.
Oduwole stated that though BillsnPay is a relatively new solution, it has in the last one year addressed some of the inefficiencies associated with billers who send physical bills.
He said with BillsnPay, the era where billers send out physical bills, is gone. He stressed that it was an era where the cost of sending of bills and reconciling payment made by the customers was so high and had a huge impact on the operating expense of such organisations. This is because the billers ideally spend so much money on logistics such as stationeries and delivery, which most of the time doesn’t get to the consumer and many a bill do not get paid as at when due.
However, with the introduction of the BillsnPay solution.He explained that organizations like Lawma and electricity distribution companies with a large pool of customers who receive recurring bills; all that is needed is for these organisations is to sign on to the platform and integration can be done to their back end system if available. Thereafter, their customers can access their bills digitally and can make payment for such bills through the different payment options available on the platform.
Alternatively , the billers can upload the basic details of its teeming customers.He said the details to be uploaded include names, phone number and email addresses to which the respective bills would be sent.
“We have designed BillsnPay in such a way that once a customer receives an email or SMS notifying them about their bill. They can pay via different channles such as; through their internet banking, using their cards , directly at the bank; whilst a receipt will be generated immediately for the costumer,” Oduwole said.
He further added that the solution reconciles the merchant account in such a way that it helps him to get every detail of the customers who have paid their bills and those who are yet to pay.