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

Electronic bill presentation and payment is a process that allows bills to be created, delivered, and paid online. The 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 presentation and payment solutions across diverse industry verticals. Banks and financial institutions have somehow played a major role in bringing about this transformation by issuing 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 period from 2018 to 2026. Swift growth in the e-commerce sector and a growing preference for cashless transactions have had a positive impact on the growth of the electronic bill presentation and payment market worldwide.

There are two common models for electronic bill presentation and payment. The 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 mostly used by utility companies. With the use of biller-direct EBPP solutions, utility companies send an electronic bills to their customers. Consequently, the 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 presentation and 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 websites to view statements and pay bills. On the other hand, the bank-aggregator model refers to making payments for multiple bills electronically through a bank. Thus, this model provides a single medium where consumers can visit to view and pay all their bills and statements, thereby improving the customer experience.

One of the major obstacles to the widespread adoption of electronic bill presentation and payment solutions lies in the intricacy of the billing systems and processes adopted by competing for financial institutions and banks. Some financial institutions have resisted implementing electronic bill presentation 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 presentation and payment solutions.

The global electronic bill presentation and payment market are segmented on the following basis:

End-use vertical

• BFSI
• Telecom
• Utilities
• Retail
• Healthcare
• Government
• Others (education, etc.)

By Geography

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • France
  • Italy
  • U.K.
  • Russia
  • Rest of Europe
• Asia-Pacific
  • India
  • China
  • Japan
  • Rest of Asia-Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East and Africa
  • GCC Countries
  • South Africa
  • Rest of Middle East and Africa

Key players identified across the entire electronic bill presentation and 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, ERP source Limited, Alacrity, Enterprise Billing Software Ltd., Jack Henry & Associates, Jopari Solutions, Inc., among others.

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