Types of Bill Payment Systems

types bill payment system

A Closer Look At The Types of Bill Payment Systems


Making regular and timely payments is critical for any business to run successfully. Hence, for the ease of businesses and individuals, numerous bill payment systems are available in the marketplace. But, with so many choices available, one might be overwhelmed with which payment system to choose. On the other hand, businesses offering multiple payment options could help them attract a wider variety of customers, allowing them to make larger and repeated purchases.

To get in-depth details of the bill payment systems, below is a breakdown of various modes of bill payments:



Cash is one of the most frequently-used bill payment systems and is most commonly used for everyday purchases. This payment mode is quick and easy to use and does not involve any form of fees that you need to pay for accepting cash payments. However, having cash ready at all times is not that convenient, as you will have to find the ATM, ask for cashbacks, or even head to banks and wait in long queues to avail cash for paying the bills.



The cheques are paper vouchers linked to the payer’s current account and are used to pay bills without additional charges. However, with the introduction of digital payment modes, the prevalence of cheques is dropping drastically.


Debit card

A debit card is a plastic card linked to a user’s bank account. When the user opts to pay with it, the amount gets deducted from their bank balance. It is majorly of three types::






Customers can pay through their debit card via a card machine or online payment apps. The money is deducted from their bank account on the same day, but in some cases, it can take up to 48-72 hours. Furthermore, with the advancement of technology, we now have contactless debit cards which do not need to be swiped and can pay by just hovering over the machine. Hence, debit cards are the best alternative to cash.


Credit card

Credit cards are used the same way as debit cards, but the key difference is that with a credit card, customers pay with credit, not the actual money in their bank account. Therefore, they have the leverage to pay the money back by the end of the month or the due date. When someone takes a credit card, they will be issued a credit limit, beyond which they cannot spend. Therefore, you must pay back the amount and the interest charged whenever you use it. The most common credit card issuers are:




3:American Express


With a credit card, one can pay online using a smartphone PIN.



As mentioned above, contactless payments are on the rise because of how quick and simple they are to execute. Customers will only have to tap their card or phone on the card reader to complete the transaction, and they’re done (using near-field technology).


Contactless bill payments can be made instantly with a credit, debit, prepaid card, or mobile. However, contactless card transactions are restricted because of how simple it would be for a thief to make purchases using another person’s card.


Mobile payments

In this digital era, almost everything has gone online. One of the most significant transitions is online financial services. Numerous online bill payment systems let the user make bill payments with just a few taps on the smartphone. Via wallet and UPI services, you need to add a few details and tap on the screen to make instant payment without much hassle. The best part is that you are not required to enter bank details whenever you wish to make the bill payment. This payment mode allows customers to make large purchases safely and swiftly. It is one of the most convenient bill payment systems and has become a staple these days.

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Prepaid cards

Prepaid cards can be used instead of carrying cash. Although they function like debit and credit cards, a person does not require an account to use one. Instead, like a pay-as-you-go mobile phone, they are loaded with cash as and when needed.


Prepaid cards offer the flexibility of other plastic payment methods without the risk of accruing debt because they can be used to make online payments using chip & PIN or contactless technology. However, the user will be responsible for related costs.


If you are planning to get the most reliable and affordable cards to make successful bill payments on time and without any charges, you can rely on EnKash. It is one of the best spend management platforms that allow businesses to easily make bill payments via credit, debit, virtual or prepaid cards. In addition, it offers bill payment systems powered by trusted banks and, therefore, offers reliable financial services. EnKash allows you to easily create, manage, use, and control various business expenses with better spend management.


Also, you can get your hands on DIY module cards through EnKash. Using this card type offers users the advantage of setting limits, tracking, managing, and controlling card spending according to their business requirements. Moreover, you can make spend reconciliation easy with real-time records now. So get in touch with EnKash and avail the best spend management solutions for ease and efficiency of your business.

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