e-Bills

1. Product Description

There is a growing need for Electronic Payments and with the recent circular from Central Bank on Cash Policy banks today are providing different infrastructure to meet the specific needs and requirements of the teeming stakeholders; Biller Organizations and Customers. It is desirable to have a solution that will make Bill payments seamless without the added overhead of paying at specific physical locations.

NIBSS eBillPay is an account-number-based, online real-time Credit Transfer product that enables customers to make payments by leveraging the security provided by the banks. It enables banks to provide electronic bills payment services through Payment Channels such as Internet Banking (iB), Mobile Banking, Kiosk, etc. while leveraging on the security measures provided by these channels with a view to making payments to signed-up Billers.

Features of NIBSS eBillPay

1. On-Line Real-Time payment delivery

   Payments can be made to any Biller as long as the Biller is signed onto the NIBSS eBillPay service and with the assurance that the Biller would receive value in real time mode.

2. Inter-Bank in nature

   This service leverages the NIBSS Instant Payment (NIP) platform that all banks have connected to. As a result of this, there is seamless and straight-through processing from the initiation point to the beneficiary.

3. Based on Bank Account Numbers (non – Card)

   Unlike other payment services that requires the use of cards, NIBSS eBillPay is based on Account numbers of bank customers

4. Authentication is done by Sending Bank

   By virtue of the Sending Bank being the source of transactions, authentication (determining that the customer is who he claims he is) is done by the Sending Bank.

5. Biller Notification

   The service provides a means of notifying Billers of payments made by customers with (a) SMS alerts in real time mode and (b) online real-time web/remote access to the NIBSS Payment Gateway for Biller to view transactions in real time.