NextBill allows companies to send billing statements and receive payment information via standard e-mail programs without third party processors.  The NextBill system can be installed on a Web Server at a bank's or billing company's data center. The system will collect billing information from a company's accounts receivable or billing system and will generate billing information in HTML format, which is sent to the customers by e-mail.Company information and advertisements can also be included on the billing statements. Customers will receive their billing statements by e-mail and use their current Internet access services to receive bills and authorize payments with no requirement for bill payment software.To pay the bill, a customer will simply click on a "Pay Bill" hyperlink listed on the e-mail statement, linking the customer to a payment screen on the company's Web site. The NextBill system gives consumers greater control over the billing process by allowing them to select the format of their bills, the payment method and the ability to set the payment amount and effective date.  Once the payment information has been received by the NextBill system, the transaction is either warehoused or processed, depending on the effective date. During processing, the system will create an ACH transaction to debit the customer's financial institution account and send the payment data to the company's billing system to credit the account. Transactions for each day are placed into an ACH batch that is processed by the bank through the Federal Reserve System.