VeriFone, a division of Hewlett-Packard Co., and Metering Technology Corp. have deployed the VeriFone VeriFlex Utility Solution, a fully integrated, end-to-end prepayment solution that automates the utility revenue cycle from meter reading to collections.
The solution combines VeriFone's payment technology with electronic meters and power-line communications technology from Metering Technology Corp.
Consumers can choose when they pay and the amount of service they purchase to save on late fees, returned check fees and disconnect or reconnect fees.
The solution also eliminates most of the utility's expenses for manual meter reading, bill processing and mailing, manual payment collection, and service disconnection or reconnection. It provides meter power-outage information to identify outages that may indicate fraud. In addition, utilities can receive payment before delivering service.