Paying respects.(electronic bill presentment and payment)
Economist (US), The, May, 2000
The banks fear that the Internet might elbow them out of the payments system. They need not worry--yet
AMONG its various claims to world leadership, Sweden's Swedbank prides itself on having been the fist bank to introduce "electronic bill presentment and payment" (EBPP). In America, this facility is now spoken of as the "killer application" that will inspire the multitudes to bank on the Internet. Swedbank now handles 2m bill payments a month. However, Hakan Nyberg, who runs its Internet service, concedes that "presentment"--the delivery of bills for payment online--has still not reached critical mass. There are only about 20 "live" billers, and only a few thousand bills presented each month.
Swedes, like Finns, long ago stopped using cheques. In...
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