Business Services Industry
On the Job; Michael Taipale, Federal Reserve Bank of Cleveland.(Finance)(new electronic consumer bills payment program)
Crain's Cleveland Business, September, 2003
Byline: Jared Klaus Michael Taipale of the Federal Reserve Bank of Cleveland is championing a pilot program to improve the delivery of electronic consumer bills. The program, called the Electronic Billing Information Delivery Service, or Ebids, is designed to eliminate the need for consumers to surf from site to site each month to pay bills by consolidating their bill paying to their bank's web site.
Ebids would use the Automated Clearing House Network, already in use by 20,000 financial institutions for such services as transferring payments. Mr. Taipale said adding the bill pay function would be a logical next step. He leads the electronic payments department at the Cleveland Fed. He also serves as chairman of the Council for Electronic Billing and...
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