A bill presentment and payment remittance system is configured for use over an
electronic network, such as the Internet. The bill presentment and payment remittance
system allows the biller to create a bill and payment remittance information in
a format specified by the biller. The biller submits the bill and associated payment
remittance information by electronically transmitting it over the Internet to the
consumer. The consumer authenticates that the bill did indeed come from the indicated
biller. The bill is presented in a user interface which provides a line-by-line
itemization of the bill, along with a predefined dispute reasons which the consumer
can check to challenge particular items on the bill. The bill can then be automatically
or manually adjusted to reflect any disputed amounts. Payment of the bill is preferably
in the form of a "direct debit check" that is formed by the consumer software using
the billing and remittance information provided in the bill to automatically name
the biller as the payee. The consumer completely controls the payment authorization,
specifying the amount to be paid (either partial or full), and the date for the
payment to be made, and the account from which the money will be drawn. The electronic
payment and any dispute criteria are associated with the payment remittance information.
The payment instruction and remittance information are then transmitted in the
biller prescribed format back over the Internet to the biller. In this manner,
the payment remittance information is automatically returned directly to the biller
in the format that the biller chooses, without intervention by the consumer. The
biller executes the payment instructions sent to it electronically by the consumer
by sending them onto the biller's bank.