How Americans Pay Their Bills: Sizing Bill Pay Channels and Methods, 2020 Update

Among the 15.5 billion bills paid in the last year, approximately 10 billion, or 65%, are made as one-time payments, finds a new Aite Group report.

Boston, September 22, 2020 — Though evolution in bill payment has meant adding new channel support and expanding the range of payment methods accepted, traditional methods such as ACH still dominate the bill pay space. But paying bills on either a financial institution’s website or a biller’s website is a complicated and friction-prone task for consumers. The market is due for new bill pay solutions to improve the customer experience and to help banks and billers capitalize on better digital consumer experiences and interactions. The latest Aite Group report, How Americans Pay Their Bills: Sizing Bill Pay Channels and Methods, 2020 Update, analyzes bill payment volume and gross dollar volume across the 30 most popular bill categories.

“Consumer bill payment behaviors and methods vary greatly across generations and across the various bill payment categories,” states David Albertazzi, research director at Aite Group. “FIs and billers should attempt to remove friction and barriers from bill payment activities by providing more convenience, transparency, and efficiencies to the entire order-to-pay process,” he explains.

This report, sponsored by BillGO, sizes the channels and methods consumers used to pay their most common bills in the last year. Based on a Q2 2020 Aite Group survey of 3,039 U.S. consumers, it uncovers insights into how all generations are conducting bill payment activities and how the COVID-19 pandemic has affected these activities. 

To request a press copy of this report or to speak with David Albertazzi or Talie Baker about this topic, please contact us at [email protected]

About Aite Group:
Aite Group is a global research and advisory firm delivering comprehensive, actionable advice on business, technology, and regulatory issues and their impact on the financial services industry. With expertise in banking, payments, insurance, wealth management, cybersecurity, fraud and AML, and the capital markets, we guide financial institutions, technology providers, and consulting firms worldwide. We partner with our clients, revealing their blind spots and delivering insights to make their businesses smarter and stronger. Visit us on the web and connect with us on Twitter and LinkedIn.

Press Contacts:
Siobhan Scanlan
Public Relations
[email protected]

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