Dutch bank Rabobank is working with TPG Post on an initiative to provide electronic bill presentment and payment services to its 2.5 million Internet banking customers.
The idea is to link TPG Post's digital letterbox scheme with Rabaobank's online banking service. The Privver letterbox service from TPG Post has been running since 2001 and claims 135,000 customers and thirteen billers, including telecoms operator KPN, insurance companies Univé and VGZ, and cable provider.
TPG says surveys among consumers have shown that they would like to receive digital mail from more suppliers and that they would like to see the integration of the digital letterbox and Internet banking.
Work to link Privver with Rabobank's Internet banking system is expected to take 12 months to complete. It is envisaged that Rabobank customers subscribing to the system will receive a digital giro slip setting out all payment details and the desired payment date. The consumer will simply be required to confirm the information.
The majority of consumers currently receive paper bills by mail with a giro slip attached and must manually re-enter the details printed on these slips in their Internet banking programmes.
TPG says that the Privver letterbox will continue to operate alongside Rabaobank's bill payment programme and that the electronic bill and giro solution will eventually be made available to other banks.