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Mobile Bill Payment Use Doubled to 16 million US Households in just one year! [survey]

Mobile Bill Payment Use Doubled to 16 million US Households in just one year! [survey]The Fiserv 2013 Billing Household Survey has found consumers are paying their bills in more ways than ever before, with the number of consumers paying bills from smartphones and tablets growing significantly.

Especially the young consumers (Generation Y) prefer a variety of channels and immediate payment options. They use the mobile channel to manage billing and payment more than other generations. As more of these young consumers take on bill payment responsibility, it will influence how billers are innovating and offering services based on changing consumer preferences.

Main survey findings

  • 100%: Mobile bill payment usage doubled from 8 million U.S. online households in 2012 to 16 million in 2013.
  • 150%: This growth was driven primarily by smartphone owners, among whom mobile bill payment surged 150 percent.
  • 83%: The survey found that 83 percent of consumers are using two or more channels to pay their bills each month.
  • 74%: 74 percent of Gen Y respondents consider offering multiple payment options important, compared to 67 percent of all respondents.
  • 70%: Consumers who pay bills using their mobile device do so primarily for its convenience (70 percent), anytime access (55 percent) and time savings (49 percent).
  • 61%: While the number of U.S. online households that pay a bill by check declined from 61 percent in 2012 to 53 percent in 2013, the number of households using mobile and tablet for bill payment gained ground, resulting in the higher number of channels used overall.

Some more survey findings

1

Mobile-Specific capabilities drive digital bill payments

The Billing Household Survey found that the number one motivator to pay bills or pay more bills using a smartphone is the use of an app and smartphone camera to take a picture of the bill, cited by 36 percent of respondents.

Using the camera to capture then auto-populate bill payment fields streamlines the bill payment process, and this finding reinforces the fact that consumers desire more engaging, simple and quick user experiences facilitated by their mobile device.

2

Alerts and Reminders boost E-Bill adoption

Nearly 75% of the households that expressed an interest in receiving alerts and reminders said they would have a more positive perception of a biller that sends them a reminder to pay a bill.

Sixty-six percent said alerts and reminders would increase the likelihood they would use paperless e-bills, most likely because alerts help consumers overcome the concern of not having a paper bill to serve as a reminder to pay.

3

Tablets have a firm seat at the table

More than 33% of tablet owners had used their tablet to visit a biller site in the previous 30 days. The primary reason for the visit was to pay a bill (63 percent) followed by accessing invoice information and history (36 percent). 25% of tablet owners use their tablet to pay bills at either a biller or financial institution website — an increase of 19% over 2012. The survey also found that 60 percent of tablet owners would like to receive e-bills on their tablet.

4

Billing and Payment creates website traffic

More than 80 percent of consumers who visit a biller’s website do so to pay a bill, reinforcing the importance for billers to make billing and payment a prominent and strategic part of the site. Seventy-one percent of consumers who use a biller site to make payments say that online accessibility has eliminated the need to call customer care. Billers who do not provide an easy, direct and clear way for consumers to find billing and payment information and options risk abandonment and the use of higher cost channels to pay bills.

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