Push model internet bill presentment and payment system and method

The method of step 1, wherein obtaining a routing address comprises the steps of:

• associating the customer's financial institution with a globally unique identifier;
• registering the globally unique identifier with an Internet Domain Name Service;
• receiving an Internet Protocol address corresponding to the globally unique identifier that has been registered with the Internet Domain Name Service;
• loading information into a look-up table database that correlates the customer's financial institution with the Internet Protocol address.

The method of step 1, further comprising the steps of:

• sending an automated payment to the biller's financial institution that originated the bill;
• crediting the billing account owned by the biller at the biller's financial institution;
• and
• notifying the billing entity that the bill has been paid.

A system for electronic bill presentation and payment configured to perform the steps of:

• obtaining a plurality of bill files, each bill file associated with a particular billing and a particular billing account maintained at a biller's financial institution, each bill file including a plurality of records, each record identifying a particular invoice account and a corresponding balance representing a financial obligation owed by a corresponding customer to the billing entity;
• processing records in each bill file by:
• obtaining a routing address associated with a customer's financial institution where the corresponding customer maintains an account,
• obtaining customer account identification information identifying the corresponding customer's account at the customer's financial institution,
• assembling a bill packet corresponding to the bill record, the bill packet including information from the corresponding bill record and the customer's account identification information, and
• transmitting the bill packet to an electronic repository corresponding to the customer's financial institution using the associated routing address;
• and
• processing the bill packets received by each electronic repository by:
• sorting the received bill packets by customer's account information;
• assembling a bill presentation file containing information from the received bill packets for each customer account;
• and
• electronically presenting each bill presentation file for viewing and electronic bill payment.

A system for electronic bill presentation and payment, comprising the steps of:

• obtaining a payment made by a customer remunerated to a billing entity;
• data mining the payment to obtain customer's financial institution data that distinctly identifies a customer's financial institution;
• associating the customer's financial institution data with a routing address;
• transmitting a bill packet to an electronic repository corresponding to the customer's financial institution using the associated routing address.