US Clearing, a division of Fleet Securities, has launched MyBillCenter, a Web-based service where US consumers may receive, review, pay and organise all of their bills online.
The new service is powered by online bill management firm Paytrust and enables consumers to receive and pay 100% of their bills online. The service delivers email notifications when bills arrive and reminders when they are overdue. It can be customised to pay certain bills automatically upon receipt, streamlining the bill payment process even further.
US Clearing is currently rolling the service out to its correspondent/broker dealer network. It is also available directly from the firm's Website.
According to International Data Corp, the electronic bill presentment and payment (EBPP) market is estimated to grow at compounded annual growth rates of 100% through 2004, generating revenues of more than $1 billion.