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 period. 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.
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, eBillingHub, Jopari Solutions, Inc. and Others.
Historical & Forecast Period
This study report represents analysis of each segment from 2021 to 2031 considering 2022 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2022 to 2031.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. Key data points that enables the estimation of Electronic Bill Presentment & Payment market are as follows:
- Research and development budgets of manufacturers and government spending
- Revenues of key companies in the market segment
- Number of end users and consumption volume, price and value.
- Geographical revenues generate by countries considered in the report
- Micro and macro environment factors that are currently influencing the Electronic Bill Presentment & Payment market and their expected impact during the forecast period.
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
Market Segmentation
End-use Vertical
- BFSI
- Telecom
- Utilities
- Retail
- Healthcare
- Government
- Others (Education, etc.)
Key questions answered in this report
- What are the key micro and macro environmental factors that are impacting the growth of Electronic Bill Presentment & Payment market?
- What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
- Estimated forecast and market projections up to 2031.
- Which segment accounts for the fastest CAGR during the forecast period?
- Which market segment holds a larger market share and why?
- Are low and middle-income economies investing in the Electronic Bill Presentment & Payment market?
- Which is the largest regional market for Electronic Bill Presentment & Payment market?
- What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
- Which are the key trends driving Electronic Bill Presentment & Payment market growth?
- Who are the key competitors and what are their key strategies to enhance their market presence in the Electronic Bill Presentment & Payment market worldwide?
This product will be delivered within 2 business days.
Table of Contents
Companies Mentioned
- 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
- eBillingHub
- Jopari Solutions, Inc.
