An idea that needs venture capitalists: comprehensive online billing consolidation
Posted by: in Products and ServicesFiled under: Products and services, Consumer experience, Internet, Competitive strategy, Microsoft (MSFT), Entrepreneurs, Personal finance
On the web bill paying is nothing new. Consolidated bill payment services on the internet aren’t very new either. However, as I was researching one of the many fledgling, service cost reduction offerings, namely BillShrink.com, that little light bulb went off again in the back of my head.
What I’m thinking about is this; Now that we can conduct virtually any financial transaction on the web, why doesn’t someone put together a complete and comprehensive online billing consolidation and cost reduction service? Microsoft has been providing something similar to my idea, but their service requires constant user interface, and I don’t believe that it provides comparison shopping for substitute services. With my concept, the consolidation bureau would take over all aspects of bill paying for the subscriber, up to and including continual comparison shopping for cheaper or superior services for it’s subscribers. I believe that, until now, bill consolidation services have merely been payment transactors. I’m saying that it’s time for them to become far more proactive.
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