All You Need to Know About Electronic Bill Pay — VPN Unlimited Blog

All You Need to Know About Electronic Bill Pay

Bills are among the most boring and painful responsibilities ever. Alas, being a grown up has its price and we have to pay our bills, like it or not. Even worse, we need to know everything about them so as to not lose our money: payment options, their advantages, pitfalls, etc. According to ACI Worldwide, nowadays about 8,2 billion of bills in the US (56%) are paid online. Since more than half of Americans prefer electronic payments, we’d like to emphasize more on this type. The VPN Unlimited team undertook an extensive research and this is what we got.

Basic information

Considering the advantages of such payments and in order to provide you with some useful tips, first we should figure out what an online bill pay is. In simple terms, it is a service which allows you to set up an online account and manage your bills. It could be anything – from your regular car loan payments to power bills. There are three ways to do this online: eBanking, via the biller’s site, or with third-party service. The first of the options is usually perceived to be the safest, as 57% of Americans keep their savings in banks and associate this with safety.

Also, you may see an EBPP acronym while paying bills online. It stands for Electronic Bill Payment and Presentment and is a process of creation and delivery of your bills. This consists of two stages: 1) reviewing your bills and 2) transferring money. Definitely no rocket science, which is one of the reasons for the popularity of the system.

Benefits and risks of electronic bill payment

All You Need to Know About Electronic Bill Pay — VPN Unlimited BlogAdvantages of internet transactions become more and more appealing for users. As CreditCards puts it, paying bills is the most popular type of payment on mobile phones (54%). And, of course, we all know electronic bills’ benefits. They’re convenient, since most websites accept payments by credit cards. They’re swift, cause even if you recall about your payments in the last minute, you can still make it right in time. Finally, they’re organized. Whichever online method of payment you choose, you’ll be able to manage its history and sort it the way you need.

Another benefit is security, however this one is somewhat disputable. Сomparing online payment to transactions which we take for granted, like paying with a credit card in shops, people are likely to think that a proper bill payment service provides them with more protection. These services, especially banking, certainly make promises about the high level of security and encryption. However, their protection is extended only to their website, not your computer. They can’t protect you from phishing, shoulder surfers, and other online and offline risks. Unfortunately, even the best protection on websites is rendered meaningless if your device gets hacked.

Tips for safe use of electronic bill pay

Cyber criminals have quite a number of methods and tricks on how to hack your computer, so your private data can be in danger. That’s why taking precautionary measures becomes essential, since your online payments are in the crosshairs of cyber criminals.

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What can you do?

  • Don’t send anything about your bill payments by email to untrusted services and don’t pay anything through links which they may send you. Stay sharp.
  • Use a virtual private network, like VPN Unlimited, which will encipher details of your payments. For instance, our app features highly secure AES-128 and AES-256 encryptions, keeping malefactors from decoding your bill payment data.

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  • Obviously, don’t enter your personal information on public computers or connect to public WiFi without VPN Unlimited turned on.
  • Log out of all your payment accounts after you’re finished. Even on your personal devices.

We hope our article will help you defend against online bill payments’ risks. If you have any questions, leave them in the comments below, we’ll be happy to discuss them with you.


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