15 Million Connections
Smart payment (or prepayment) is the process by which a customer uses energy and utility services following prior payment. Itron offers a full range of smart payment solutions via hardware (prepay meters) or software (smart prepay services). Many of our utility customers view prepayment programs as an increasingly attractive AMI-enabled service option that delivers strong value to both the utility and customer alike.
With prepayment technology and services from Itron, you can:
- Protect revenue (decrease delinquent accounts, reduce theft)
- Reduce write-offs by 50 percent or more
- Improve cash flow and revenue forecasting accuracy
- Reduce disconnects for non-payment
- Improve customer satisfaction (85 percent customer satisfaction)
- Reduce energy consumption (12-15 percent energy reduction per prepayment household)
- Save administrative costs (credit and collections, postage, printing)
Certified Solutions for the Cloud
This is a highly interoperable platform based on open standards and certified to support both currency- and unit-based (KWh, cubic meters, kiloliters) prepayment transactions for all utilities: gas, water, and electricity. Our platform also supports a broad spectrum of smart payment technologies, from keypad meters to smart communicating (AMI) meters equipped with remote switches.
Shifting Perceptions of Prepayment
Smart Meters. Smart Payment. Smart Thinking.
Itron’s OpenWay Riva IoT solution supports a “thin meter” prepayment model where the tariff is defined in a third-party prepayment software solution and no additional hardware is required at the customer premise.
OpenWay Riva residential meters provide the two-way, real-time communications, usage data and robust security required for remote disconnect and reconnect of service. This includes the ability to automate load-limiting based on thresholds.
Itron’s prepayment solution also provides customer enrollment, payment methods, billing system synchronization, low balance and disconnect alerting. This solution also enables consumers to better understand their energy usage through a variety of interfaces. Itron offers this services-based prepayment solution in partnership with a number of industry-leading partners, including PayGo and Exceleron, both of which we have worked with in North America to deliver successful prepayment solutions to utilities on the OpenWay Riva solution.