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From the way I understand it paperless billing is just that you don't get a paper bill in the mail. You might get a text message saying your bill is ready to be paid and then you can view it through the website or T-Mobile app.
Electronic billing might be if you have your bill set up to to Auto draft from your bank since you can have T-Mobile as a payee.
I think snn555 gave a really good explanation. Did you have any other questions about the differences? Please let us know.