Future of Invoicing
Finally, the eBill platform appears as a successful example of an intelligent invoicing platform that can support users in various ways with additional integrated functions and services. It looks at possible long-term developments for the eBill platform, including Scaling, Further Intelligence, and Open Billing. Scaling includes the integration of direct debit, expansion to Europe, and migration of existing volumes to the eBill platform. The integration of Request to Pay into the eBill platform could drive expansion into Europe and lead to positive economies of scale. Further Intelligence concerns the integration of credit functions, data management and instant payments. This means that the path of a transaction from the payer’s account to the payee’s account could take only a few seconds in the future. Open Billing is a nested word that builds on the principles of Open Banking, Open Finance and Decentralized Finance. Open Billing aims to give customers control over their invoicing data and allow them to access and selectively share this data with authorized third parties to develop innovative products and services. Examples of Open Billing ecosystems are bLink and EBICS. They offer financial institutions and software or service providers a scalable platform for standardized interfaces (APIs) and enable the efficient and secure exchange of financial data.