Today’s consumers seek digital payment gateways that are modern, convenient and secure — this includes the ability to pay household bills online. Utility companies must modernize their payment systems to meet the demands of the digital age. If you are wondering where to find top-rated digital payment solutions for utilities, these six platforms may deliver the solution you are looking for.
1. KUBRA HQ
KUBRA tailors its customer experience management solutions to the utilities industry through KUBRA HQ, which streamlines billing, payment processing and communications within an integrated suite.
The omnichannel experience enables customers to engage through various channels, including KUBRA EZ-PAY+ for on-demand payments, the IVR+ for paying over the phone, the MyHQ+ customer portal and an in-person cash payment network. Additionally, it provides various communication tools, such as Notifi alerts and interactive outage maps, to boost customer engagement.
This provider stands out for its customer-centric approach, extensive industry knowledge and commitment to security. As an artificial intelligence-driven platform, KUBRA HQ is a leader in helping utility companies modernize digital payment systems.
Key Features
- Offers an omnichannel experience for customer interactions
- Focused on delivering user-friendly, intuitive and secure solutions
- In-depth utility industry expertise with tailored solutions to address specific challenges
2. Paymentus
Paymentus helps the utility industry optimize payment services for customers. It supports various transaction methods, from debit and credit cards to digital wallets and in-person cash payments.
With over 450 integrations for major billing systems, you can get smooth and accurate data transfer, including for legacy platforms. The Paymentus Agent Dashboard offers real-time insights and data analytics for better billing and revenue management. It is also Level 1 PCI compliant, guaranteeing robust security.
Reduce overhead costs and improve your customer experience by incorporating Paymentus’ AI-powered BillWallet and chatbot tools. Likewise, the Client Adoption Success Team is a complimentary full-service marketing support program designed to drive customer awareness and efficient digital payment adoption.
Key Features
- AI-driven features for a more personalized and convenient payment process
- An extensive network of integration partners so companies can easily connect their systems
- Dedicated marketing support to aid utility companies in achieving optimal adaptation
3. InvoiceCloud
InvoiceCloud provides a highly specialized digital payment platform tailored for utility companies. It uses AI to ensure billing experiences are adaptable and proactive, integrating seamlessly with existing programs, such as SAP, Oracle, Harris Advanced and other legacy systems.
Its built-in connectors remove data silos and decrease manual processing across billing, collections and disbursements. InvoiceCloud’s Payer Adoption Services further help your utility organization introduce new digital payment methods to customers.
This vendor’s solutions have a track record of success. Customers who have engaged with its system have reduced late payments by 40%, while utility companies save a significant amount of time per month on manual tasks.
Key Features
- Delivers intelligent, real-time insights for maximum operational optimization
- Partners with utilities to boost customer adoption and higher return on investment (ROI)
- Tailored to meet the unique and evolving needs of the utility industry
4. iPaySmart
iPaySmart is among the top-rated digital payment platforms for utility companies. Its end-to-end integrated system streamlines secure transactions through flexible payment methods, delivers real-time insights and promises optimal security compliance.
By leveraging advanced AI technologies, iPaySmart enhances customer experiences with paperless billing, an intuitive and user-friendly interface, and 24-hour technical support. The platform integrates easily with major enterprise resource planning systems, enabling data analytics to drive more informed decision-making for your business. It is also highly configurable to meet the evolving needs of the utility sector.
Most impressively, iPaySmart delivers up to 90% paperless adoption, 92% customer satisfaction and 40% lower operational costs for its clients.
Key Features
- Embeds AI and machine learning into its payment gateway for personalized customer experiences and secure transactions
- Utilizes blockchain technology for transparent, tamper-proof payments
- Manages the entire billing life cycle in a unified payment ecosystem
5. PaymentVision
PaymentVision offers comprehensive financial technology solutions for a diverse range of industries, including utilities. Its platform enables customers to pay bills online, by phone, through a mobile app, by text or in person. It also supports payment using credit and debit cards, electronic fund transfers, or cash. With its reputation for 99.9% uptime, customers can pay their bills at any time and from anywhere.
The system supports convenience fee processing, which allows you to pass a small electronic payment fee to your customers, thereby lowering costs for your utility organization. This vendor also offers flexible settlement options, allowing you to retrieve funds quickly, which is particularly useful for collections and accounts receivable management.
Key Features
- Supports multiple payment channels and transaction methods
- Integrates with existing systems to reduce manual labor and operational costs
- Prioritizes security and compliance with tokenization and risk management
6. Fiserv
Fiserv partners with over 3,000 utility companies and processes 30 billion transactions annually. It understands the need for new digital payment channels better than any vendor, working closely with you to enhance your billing and payment life cycle for the ultimate customer experience.
Its integrated approach makes digitalization easier and reduces the need for paper-based billing. The result is ample savings for utilities, improved customer engagement and lower regulatory risk. With its Engagement Advantage, you can deliver a convenient, straightforward platform that is scalable and flexible, allowing you to create personalized messages and distribute bills in several ways.
Key Features
- Customized messaging for customer communications
- Accelerated revenue collection through multiple channels and payment options
- Allows utilities to send electronic bills and receive payments through the same platform
Choosing the Top-Rated Digital Payment Solutions for Utilities
There are numerous top-rated digital payment solutions for utilities, but not all are equal. You must evaluate each vendor’s offerings, integrations, support and reputation to make a sound decision. Consider the following criteria for each contender:
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Why Should Utility Companies Adopt Digital Payment Platforms?
Digital payment systems are essential for utility modernization, streamlining back-office operations, reducing costs and paper bills, and minimizing the manual work required for reconciliation.
Customers can log in to their accounts and pay their balance 24 hours a day or set up automatic payments to ensure consistent cash flow. The self-service model has become increasingly popular for customers seeking convenience in bill payments. In addition to optimizing business functions, it provides utility companies with a competitive edge in the marketplace.
How Do Digital Payment Platforms Integrate With Existing Utility Billing Systems?
Application programming interfaces (APIs) enable seamless, two-way communication between digital software in real time. Their adoption fosters growth within the digital economy, facilitating innovation and optimal service delivery.
Utility companies must define the parameters for APIs to know which software systems to access and collect payment details from, including where to retrieve the customer account and billing details. In advanced utility payment systems, APIs create a communication stream between the company's customer information system (CIS) and the payment gateway.
The API utilizes the customer's stored CIS information and processes the payment automatically, updating their records accordingly. Legacy system integration with APIs is possible, but may require secure batch file transfers for data exchange.
How Do Advanced Digital Payment Platforms Support a Shift to Renewable Energy?
Renewable energy is increasing exponentially, with households across the country adopting rooftop solar. In 2024, the Solar Energy Industries Association said it took 50 years to achieve 5 million solar installations and that it will only take another six years to reach 10 million. Interest in clean power is increasing due to people's desire for utility bill savings and a reduction in their carbon footprint.
Utility companies have had to grapple with more complex billing systems due to the integration of renewable energy — a task that is often more than what legacy systems can handle. Advanced platforms can automate net metering, feed-in tariffs and time-of-use rates to ensure customers are properly credited.
The system makes it easier for customers to read their bills, providing a clear breakdown of their energy consumption and charges. It also enables them to make wiser energy-use choices at home or work.
Does Real-Time Payment Processing Improve the Customer Experience?
According to a 2024 McKinsey report, 92% of consumers used digital payments — payments made on websites, mobile apps or in-store with digital wallets — over the course of the year. The findings underscore a growing preference for self-service, convenience and immediate confirmation of payment.
Digital payments are reflected on customers' accounts instantly, eliminating any concerns regarding whether their utility company has received payment on time. This is crucial for preventing late fees or service discontinuation.
The speed and accuracy of these services cultivate customer trust, as most people expect this level of optimization from their utility provider in the modern age.
How Can You Ensure Customer Data Protection on Digital Payment Platforms?
Although customers prefer the digital payment model, protecting their personal data and account information is critical. Cyber threats are growing at an alarming rate, and hackers increasingly target utility companies.
For example, in 2024, American Water, based in New Jersey, reported a cybersecurity breach that forced it to shut down its website's customer portal and pause online billing services. The company serves over 14 million people in 24 states, including 18 military facilities.
To ensure maximum security, ensure that the digital payment platform you use meets stringent regulatory compliance requirements. Implementing end-to-end encryption, firewalls and tokenization are other ways to protect data transfers and storage.
Investing in robust cybersecurity, including continuous monitoring and security auditing, is crucial for identifying vulnerabilities and threats before hackers can exploit your systems. Additionally, being proactive improves your utility company's reputation and builds customer confidence in using your online billing methods.
Overcoming Challenges in Implementing Digital Payment
Adding a new digital payment solution to your utility billing system comes with challenges. You may need to integrate it with a legacy platform, which can be a complicated and time-consuming process. Data migration is also crucial for the most secure and accurate transfer of customer information.
You can overcome these difficulties by training your information technology staff to improve their proficiency with the new software. This will also enable them to provide better technical support to customers. Phasing out the old system and slowly deploying the new one may be best for customers who are less technologically savvy.
Selecting a vendor with a proven track record of success will also help you with integrations and long-term support.
Swift Digital Transactions for Modern Utilities
Utility payments are evolving as new technologies and digital solutions emerge. To stay competitive, your organization should partner with a top-rated digital payment platform provider to enhance billing operations and better serve customers.
