Home / Technology & Media / Global Electronic Bill Presentment & Payment Market: Growth, Future Prospects, & Competitive Analysis, 2018 - 2026

Global Electronic Bill Presentment & Payment Market: Growth, Future Prospects, & Competitive Analysis, 2018 - 2026

Overview:

Electronic bill presentment and payment is a process that allows bills to be created, delivered, and paid online. Changing payment landscape across the globe resulting in increased adoption of debit and credit cards is one of the major trends supporting demand for electronic bill presentment & payment solutions across diverse industry verticals. Banks and financial institutions have somehow played a major role in bringing about this transformation by allotting debit cards to all account holders. Increased adoption of credit and debit cards coupled with advancements in payment technologies is expected to fuel market momentum during the forecast from 2018 to 2026. Swift growth in the e-commerce sector and growing preference for cashless transactions has had positive impact on the growth of the electronic bill presentment & payment market worldwide.

There exist two common models for electronic bill presentment and payment. Biller-direct model involves a company employing its own recognized portal to facilitate direct payments from customers. The biller-direct model offers maximum customer interaction by permitting the biller to control marketing messages. Today, biller-direct EBPP solutions are majorly used by utility companies. With the use of biller-direct EBPP solutions, utility companies send an electronic bill to their customers. Consequently, customer makes a payment directly to the company. Thus, there are no intermediaries involved in these transactions. The demand for biller-direct solutions is anticipated to increase, expanding their application base beyond utilities during the forecast period. For instance, with the growing popularity of alternative payment solutions (mobile payment), healthcare providers across the globe are expected to implement new electronic bill presentment & payment solutions capable of accommodating the changing payment landscape. Although this model bodes well for a biller and its business partners, it is less convenient for consumers since they need to visit multiple web sites to view statements and pay bills. On the other hand, bank-aggregator model refers to making payment for multiple bills electronically through bank. Thus, this model provides a single medium where consumers can visit to view and pay all their bills and statements, thereby improving customer experience.

One of the major obstacles to widespread adoption of electronic bill presentment and payment solutions lies in the intricacy of billing systems and processes adopted by competing financial institutions and banks. Some financial institutions have resisted implementing electronic bill presentment and payment solutions for fear of being unable to cross promote other services to customers. In addition, disagreements over adopting uniform security and implementation standards have further stalled the adoption of electronic bill presentment and payment solutions.

Global Electronic Bill Presentment & Payment Market is segmented on the following bases:

  • By End-use Vertical
    • BFSI
    • Telecom
    • Utilities
    • Retail
    • Healthcare
    • Government
    • Others (Education, etc.)
  • By Geography
    • North America
      • U.S.
      • Rest of North America
    • Europe
      • U.K.
      • Germany
      • France
      • Rest of Europe
    • Asia Pacific
      • Japan
      • China
      • India
      • Rest of Asia Pacific
    • Rest of the World
      • Latin America
      • Middle East and Africa

Key players identified across the entire Electronic Bill Presentment & Payment ecosystem include but are not limited to:

ACI Worldwide, Inc., CSG Systems International, Inc., Monitise Group Ltd., Unity FI Solutions, Bottomline Technologies, Inc., Communications Data Group, Discover Financial Services, ebpSource Limited, Alacriti, Enterprise Billing Software Ltd., Jack Henry & Associates, and Jopari Solutions, Inc. among others.

Choose License Type
Connect With Us
+1-800-361-8290
24/7 Research Support

Credence Webinars

Join Credence analysts to explore the latest IT Trends

view upcoming webinars

Our Clients