Debit and Alternative Products

Order Form

    This individual Report U.S. Bill Pay Market: Can Financial Institutions Win Back Payers? is available for purchase. This Report is available to members of Mercator Advisory Group’s Debit and Alternative Products Advisory Service. Please be advised that this Report is normally part of a research and advisory service that provides ongoing support throughout the year. As such, this Report contains significant depth of content that is selected for its strategic importance to our members. (For a description of these services, see our Advisory Services section).

    While the Report represents significant analyst time invested, there is no means of our ascertaining if it will fully meet your specific intended purposes. Typically, these Reports form the basis for future discussions with our clients where we are able to fine-tune additional information that we have gathered in the construction of the series of Reports (or locate new information rapidly due to our exclusive focus on gathering information in the payments industry) for specific member needs.

    Unfortunately, in fairness to our paying members, we are not able to offer this level of support for a single Report purchase. We will, however, credit any Research Document purchase against the future purchase price of the service should you become a member within 30 days of purchasing the document.

    The price for individual Report purchases is $2950 per document. 

     

    Use the form below to request this individual Report purchase or

    Click here for a fax-back order form

     

     

     

U.S. Bill Pay Market: Can Financial Institutions Win Back Payers?

In a new report, Mercator Advisory Group forecasts the U.S. bill pay market will edge closer to $4 Trillion in annual processed volume. Checks payments will give way to card and electronic transaction types.


Consumers’ demands and expectations for bill pay created the shift towards digital interfaces and also an expectation around a choice of payments and greater transparency regarding payment status. Their expectations are often better met through biller solutions, not banking platforms. With improved technology for financial institutions, there is an opportunity to bring consumer bill payers back and provide enhanced convenience through a single, consolidated tool, as covered in a new report from Mercator Advisory Group titled U.S. Bill Pay Market: Can Financial Institutions Win Back Payers?

”More modern options for bank bill pay that include better notifications and payment choice will help to bring consumers back to financial institutions’ bill pay platforms. Bill pay is a critical component to securing consumers’ preferred financial institution status. But I don’t expect that consumers will return to their financial institution to pay bills at same level experienced 10 to 15 years ago. Consumers have created the habit of paying directly with billers and the way that consumers establish services today, including the rise of the subscription model, supports more direct-to-biller activity,” comments Sarah Grotta, Director, Debit and Alternative Products Advisory Service at Mercator Advisory Group and author of the report.

This report has 14 pages and 6 exhibits.

Companies mentioned in this report include:
ACI, Early Warning, FIS, Fiserv, Mastercard, The Clearing House.

Highlights of the report include:

  • Review of the payment methods and channels that consumers are using today to pay bills

  • Estimates and forecast for bill pay activity by paper, card and other electronic methods

  • The impact of COVID-19 on bill pay

  • Discussion of the gap between payments used to pay bills and the payment types consumers prefer

  • Payment methods in the subscription based model

  • Consolidation of fintech bill pay solution providers by processors