Business banking customers have different needs from individual consumers. Most online banking bill-pay services do not address the complex needs of business banking customers: paper invoice receipt is not handled, a multi-user invoice approval process is not accommodated, and the payment options are limited. Take a look below at some of the similarities and differences between the two.

The Differences between OBP and Payables Lockbox	Online Bill Pay	Payables Lockbox
Supports electronic invoice submission(EBPP)
Paper invoices are received, extracted, and imaged
Invoice coding information is extracted
Supports multiple users with configurable access rights
Supports configurable online invoice approval process
Supports company business unit configuration
Check payments sent for the business
Vendors can choose to get paid by ACH
Payments can be scheduled for future date
Invoices may be grouped into single payments
Payments include detailed remittance information
Supports payment from multiple bank accounts
Payment transactions can be loaded into business accounting system
Invoice transactions can be loaded into business accounting system
Integrates with major accounting software packages (QB/Peachtree)
Integrates with any software with an interface or import/export capability
Ability to view and search for payments sent
Ability to view and search for invoices paid or in approval process
Ability to send email notifications
Provides invoice image storage and backup