A bill presentment and
payment remittance
system is configured for use over an
electronic network, such as
the Internet. The bill presentment and
payment remittance
system allows the biller to create a bill and
payment remittance information in a format specified by the biller. The biller submits the bill and associated payment remittance information by electronically transmitting it over
the Internet to the
consumer. The
consumer authenticates that the bill did indeed come from the indicated biller. The bill is presented in a
user interface which provides a line-by-line itemization of the bill, along with a predefined dispute reasons which the
consumer can check to challenge particular items on the bill. The bill can then be automatically or manually adjusted to reflect any disputed amounts.
Payment of the bill is preferably in the form of a “direct debit check” that is formed by the consumer
software using the billing and remittance information provided in the bill to automatically name the biller as the payee. The consumer completely controls the payment
authorization, specifying the amount to be paid (either partial or full), and the date for the payment to be made, and the account from which the money will be drawn. The electronic payment and any dispute criteria are associated with the payment remittance information. The payment instruction and remittance information are then transmitted in the biller prescribed format back over
the Internet to the biller. In this manner, the payment remittance information is automatically returned directly to the biller in the format that the biller chooses, without intervention by the consumer. The biller executes the payment instructions sent to it electronically by the consumer by sending them onto the biller's
bank.