Payment Processing Solutions for Today's Electronic Transactions
As part of our commitment to providing powerful and cost-effective utility billing software, SEDC is constantly innovating new revenue-saving methods to collect consumer payments. One area we have revolutionized is Online Banking and Electronic Checks Processing. While online bank payments are extremely convenient for the consumer, they can present many obstacles for the utility, including problems with remittance information such as incorrect or missing account information, and complex manual posting processes. That’s why SEDC offers the MasterCard Remote Payment and Presentment Service (MCRPPS), an electronic payment alternative that saves time and money for your utility!
Using the power of the MCRPPS network, SEDC's Online Payment Processing service eliminates manual posting of online banking checks – so when your consumer pays a bill from his/her online banking application, you’ll no longer receive a paper check from the bank. Instead,
- The consumer's electronic payment is transmitted through the MCRPPS network
- SEDC's MCRPPS integration automatically applies the payment to your accounts receivable and automatically updates the consumer's account in UPN, our CIS software, on a daily basis
- MCRPPS deposits the funds directly into your utility’s bank account, usually within 24 hours
There are no payments to post, programs to run, receipts to create, checks to copy or deposits to make. SEDC provides the complete integrated solution you have come to expect.
If there are any problems with accounts containing bad payment information, SEDC alerts the consumer’s bank and solves the problem for future payments. Your utility doesn’t have to spend any additional time or funds to fix the situation!
Everyone wins with this quick and effortless electronic transaction. Your utility reduces the risk of payments defaulting, your employees don’t have to spend countless man-hours processing paper checks (or explaining to your customer base why their payment is delayed), and your consumers receive a higher level of service. Simply put, MCRPPS is easier, faster, more secure, and cheaper than manual processing of electronic checks!