Mobile Bill Payment Surges among Smartphone Owners
Jan. 28, 2013
Mobile bill payments make up a small but growing share of bill payment in general, according to a new report by Fiserv. The Brookfield, Wis.-based payments processor said Americans have become payment “omnivores,” using all available channels to pay their bills. Three out of four U.S. consumers use at least two bill payment methods and 20 percent change methods from month to month.
Bill payments originating from mobile phones accounted for 8 percent in 2012, up from 6 percent a year earlier. Among smartphone owners, however, mobile bill payments jumped 41 percent during the last year.
“Data continues to show that different consumers expect and value different billing and payment offerings from their service providers,” said Jardon Bouska, division president, Biller Solutions for Fiserv. “Our latest research points to the many, fluid payment practices of consumers. By understanding these preferences, billers, service providers and financial institutions can offer a billing and payment experience that meets a wide range of consumers’ needs and demands, from traditional methods to new and growing areas such as mobile payments.”