A utility payment system provides convenient self-service for one-time or recurring payments made by customers in favor of a particular utility provider. Utility payments can be made in person, by phone, online or through a mobile app. It may also be possible to set up a balance-leveled payment plan so that your energy costs don’t spike in one season and drop in another, making it easier to manage monthly bills.
When a utility considers rethinking its billing system, there are usually several different drivers, including improving customer satisfaction, reducing debt and enhancing bill management. It may also be a case of “the old system just isn’t working anymore.”
Some utility providers offer the option to pay with credit cards, which can make it easy for customers to earn rewards points or cash back. However, some credit card providers charge a convenience fee to pay for utilities, so you should be sure to weigh those fees against the benefits of using your credit card to pay for utilities.
You can create a product to process utility payments by specifying basic details, such as Product Code, Group and Description, in the UP Product Definition screen. You can also map a specific set of accounts, charges and rates to the product, so that these can be applied to any actual transaction processing against the product. You can then maintain additional accounting and management reporting (MIS) details for the product on the UP Accounts, Charges and Rates Maintenance screen. utility payment system
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