U.S. Consumer Payment Experience: A Blueprint for Creating Positive Behaviors

Many organizations are reassessing their bill payment capabilities as consumerization in payments evolves, according to new Aite Group research.

Boston, November 29, 2018 — As transactions have evolved, so have U.S. consumers, who have reprioritized how and when they pay their bills, often based on cash flow and convenience. Consumer power is growing, and switching providers is becoming easier than ever in most industries. As a result, consumer service providers are seeking to place more control into their customers’ hands, giving them the power of choice and flexibility yet accomplishing this feat while intending to shape positive behaviors. Aite Group’s latest report, U.S. Consumer Payment Experience: A Blueprint for Creating Positive Behaviors, explores consumer behavior, consumers’ frustrations, and the appeal of certain tools to improve paying on time.

“This data confirms our suspicions and previous research that consumers’ frustrations are high regarding their bill payment experience,” said David Albertazzi, senior analyst at Aite Group.

“This research is unique because we’re able to connect how a series of tools, ranging from reminders to card payments and debit card refunds, can ward off frustrations and change consumer payment behaviors,” said Michael Trilli, research director at Aite Group.

This new Aite Group Impact Report, sponsored by Visa and ACI Worldwide, provides a blueprint for consumer services providers and their payments vendors to create a payment experience that shapes positive behaviors. It is based on a Q3 2018 online Aite Group survey of 2,425 U.S. consumers who participated in a research panel.

To request a press copy of this report or to speak with Michael Trilli or David Albertazzi 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, 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.

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