Electronic bill payment Electronic bill payment Electronic bill payment is a feature of online, mobile and telephone banking, similar in its effect to a giro, allowing a customer of a financial institution to transfer money from their transaction or credit card account to a creditor or vendor such as a public utility, department store or an individual to be credited against a specific account. These payments are typically executed electronically as a direct deposit through a national payment system, operated by the banks or in conjunction with the government. Payment is typically initiated by the payer but can also be set up as
UAE Exchange transfer service in the UK. By 2003, it added Australia to its network. In 2003 it launched services for the corporate sector; in 2004 it introduced a web-based money transfer process. Between 2005 and 2009 it opened offices in Hong Kong, Uganda, Jordan, Canada, New Zealand and China, as well as purchasing "Moneydart Global Services" in the United States. It also launched an online money transfer portal, Money2anywhere.com. XPay; the bill payment solution using mobile phone was also brought out in India. In 2009 it became an Authorized Payment Institution (API) with the UK financial regulator Financial Services Authority, which