“As consumer behaviors and preferences shift toward ecommerce, there is a growing expectation of digital payments as part of the overall customer experience. That is raising the bar for all businesses, including billers.
IDC conducted a survey, sponsored by PayPal, of 1,000 U.S. consumers and found that digital wallets are growing in popularity and are becoming a preferred payment option for a variety of transactions, including recurring bills. However, the services that billers provide for bill payment have not kept pace with these changes, leading to negative impacts for both the customer experience and biller revenue.
Billers must reduce these impacts by expanding and updating their online payment services to accommodate the payment methods consumers prefer. Increasingly, that preference is for digital wallets.”
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