International Data Corporation IDC predicts that Electronic BilláPayment and PresentmentáEBPP market revenues will explode to $1 billion in 2004. In the last year, worldwide transaction-based revenues leapt 540% to $32 million, as more and more people pay their bills on-line.
This is a market that is still in its infancy but it has the potential to blossom into a staggering opportunity, says Albert Pang, research manager for IDC's eCommerce software program. The banks are heeding this trend.
Corporations are seeking new ways to streamline their accounts receivable and payable, forcing banks to extend their cash management services to provide invoice presentment and payment systems over the internet....
