Glossary

Biller

A biller is an individual, company or organization that requires payment for a product or service. This bill is typically requested by the merchant account holder after the transaction has taken place. Billers submit a request for payment either through a standard paper bill that may arrive in the mail or in statement form electronically. With today’s modern technology in place, bills can often be posted online for viewing and paying anytime, day or night. Customers can view a myriad of credit card processing data from the merchant. Information like the statement date, transaction history, interest rate, source of transactions, amount of transactions and service fees can all be viewed on each billing statement provided by the biller.

When there are discrepancies or questions regarding the billing statement, contact information can be found on the mailer or via the website. A phone number or email address should put you in contact with a customer service representative on behalf of the biller. With credit card processing ever changing, updating, expanding and evolving, having a way to contact your biller can be a valuable resource. Depending on what policies the biller has in place, discrepancies may be negotiable. Agreement upon reversing a questionable charge or service fee may depend upon certain criteria like transaction history, whether or not the account is in good standing, if this is a single occurrence, etc. If there is any concern when conducting business with a merchant, be sure to research the policies and requirements for that particular biller.

Each merchant account is different in how it structures bill payments. Billing cycles, or time periods between each statement, are typically monthly. Some statement cycles start at the beginning of the month while others happen mid month or at the end. Each statement displays when in the month it cut off and when it began. Billers may also offer the option of paying off a bill directly after the purchase. Alternatively, they may require a set number of days to pass before a customer can pay off the balance. Depending on the structure of the bill payment system, customers may be able to pay a balance in full, via mail, phone or online, or in installments. Check with your biller for specific details about its policies and requirements.