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EDS Launches Integrated Payment Services

Plano, TX-based EDS introduced Integrated Payment Services (IPS), a suite of services combining traditional and electronic capabilities.

As more and more businesses evolve toward using the Internet they are finding that their current billing system is inappropriate to handle the demands of e- commerce. At the same time, they can not afford to junk their current billing system, EDS said.

The new payment system allows companies to make a smooth transition from paper to electronic commerce. IPS allows them to combine their traditional and electronic billing capabilities, evolving towards using the Internet, EDS said.

This first IPS offering, Billing and Receivable Services, empowers businesses that issue millions of bills to successfully manage the paper and electronic flow. Billers can pick and choose from eight different options to fit their needs.

"Corporations can't junk their legacy systems to hop on the Internet--those systems represent decades of investment and millions of dollars in assets," said Paul Rudolph, president of Electronic Business at EDS. "What companies can do is integrate and consolidate those paper and electronic systems and let us help them set the technology pace for their customers and their industry."

IPS Billing and Receivable Services are offered individually or in a package and include:

  1. Interactive Billing Services: secure electronic payment presentment and payment of consumer bills on the Internet
  2. EDS*Pay: automated pay-by-phone services
  3. Interactive EDI Services: connects EDI-capable and non EDI-capable businesses to exchange data via the Web
  4. Financial EDI Services: allows non-EDI capable banks to offer financial EDI to commercial customers
  5. EDS ACH Services: automatic clearinghouse capability used heavily by banks
  6. Remittance Processing: a national lockbox network for companies with high- volume consumer payments
  7. EDS Statement Rendering Services: printing/mailing services that quickly turn files into statements for customers
  8. EDS Remittance Information Consolidation Services: receive remittance data from any source in one format

Pricing was not disclosed. Future IPS offerings will target point-of-purchase transactions and disbursements.