Digital billing via Internet banking on horizon in Netherlands
Rabobank, ABN AMRO, Postbank, ING Bank and TPG Post have reached agreement on how digital bills and invoices can be exchanged, presented and paid via Internet banking. The service will make receiving and paying bills and invoices significantly easier for consumers, businesses and banks. This new digital billing and payment method will be launched in the first half of 2006.
It is expected that the standard will also be adopted by other banks. TPG Post and in future also other companies will deliver the digital bills to banks on behalf of the bill senders.
Digital bills will be paid via Internet banking, meeting consumer needs for speed, convenience and security. Customers will no longer have to manually enter giro slip details. Furthermore, customers will also be able to call up details of direct debit payments within the secure environment of Internet banking, giving them with a complete overview of all their bills.
Digital billing will deliver significant benefits to companies, since the administrative process will become faster and simpler. It will also reduce printing and postage costs. Banks will be able to cut back on the number of paper giro slips they process, making payments even more efficient. Banks are increasingly offering customers value added services through Internet banking.
In the Netherlands, 63% of households currently use Internet banking on a regular basis. From a recent market survey by InterviewNSS, it emerged that 77% of Dutch Internet users wish to use the digital bill. A number of major companies, including telecom operator KPN, utility company Eneco Energie, insurer Agis Zorgverzekeringen, publisher Sanoma, and mail order company Neckermann Shopping have already said that they will use the standard.
