Electronic Bill Presentation and Payment

An acronym that implies using the Internet to send, receive, and pay bills, this is considered by some people to be the next step in online banking. The convenience factor of an EBPP is often highlighted for the user, but the real winners in this new scenario are the high-volume billers and banks that would save a substantial amount of operating costs by switching from a paper-based system to an electronic system.

See also : disruptive technology  
NetLingo Classification: Net Technology