What is a key feature of a consolidator in the billing process?

The key feature of a consolidator in the billing process is that it compiles and presents multiple bills. This function is essential as it allows consumers to receive a single, organized invoice for various services or products they may have acquired from different providers. By consolidating the bills, it enhances clarity and simplifies payment for consumers, who have the convenience of reviewing and paying one bill instead of handling multiple transactions. This not only streamlines the billing process but also improves overall customer satisfaction as it reduces confusion and potential errors related to managing several individual bills.

The other options describe different roles in the payment and billing ecosystem. For instance, initiating transactions on behalf of consumers pertains more to payment processors rather than consolidators. Facilitating refunds directly to consumers also refers to different payment systems where customer service management may play a significant role. Independently setting pricing for services is typically associated with service providers or merchants rather than a consolidator's function, which focuses more on billing management.