Fiserv Survey Shows Mobile Bill Pay as Number One Activity on Biller Websites as Consumer Demand for Effortless Financial Services Rises

  • Visits to biller websites from mobile devices grew 42 percent over the
    past year; bill payment is the top driver of visits
  • Growing adoption of mobile bill payment expected to impact adoption of
    e-bills and card-funded payments
  • Mobile bill pay market is evolving as more mid-sized and small billers
    now offer the capability, reflecting consumer demand for services that
    fit effortlessly into their lives

BROOKFIELD, Wis.–(BUSINESS WIRE)–According to research commissioned by Fiserv,
Inc.
(NASDAQ: FISV), a leading global provider of financial services
technology solutions, billing organizations are experiencing a surge in
mobile visits as consumers use mobile devices for more activities,
including payments. Visits to biller websites from mobile devices grew
42 percent over the past year and now make up 24 percent of all website
visits. During these visits, bill payment is the number one activity,
followed by bill views and customer self-service.

The Fourth Annual Biller Mobile Bill Pay Benchmark Study examines the
progression of mobile bill payment and billers’ approaches to mobile
bill pay and presentment (MBPP). The study shows an evolution of the
relatively young mobile bill pay market, with the capability now offered
by more mid-sized and small billers.

Data from more than 130 billing organizations in various industries,
including utilities, insurance, telecom and financial services, revealed
the following insights:

  • Mobile Bill Payment Expected to Drive Growth of e-Bill Adoption and
    Card-Funded Payments
    – Fifty-four percent of billers now offer
    mobile bill payment to their customers with 23 percent set to deploy
    in the next six to 12 months. This marks an increase of 40 percent in
    the number of billers currently offering the service, compared to
    2014. Forty-two percent of billers believe increased mobile billing
    and payment usage will significantly increase the adoption of
    paperless e-billing and payments. Increased e-bill adoption can reduce
    related postage costs. The growing use of the mobile channel also
    positions billers to meet consumer demand for timely notifications,
    late payment warnings and customer self-service capabilities.
    Seventy-eight percent of billers surveyed expect mobile bill pay and
    presentment to drive growth of credit, debit and prepaid card-funded
    payments.
  • Billers Responding to Customer Demand for Mobile Options and
    Reminders
    – Consumers expect billers to provide multiple ways to
    pay a bill with a mobile device and to accept multiple payment
    options. Providing a seamless bill pay experience across devices is
    crucial. The study found that 83 percent of billers say the use of
    responsive design, which ensures the presentation of information is
    suited to the device, is an important priority. Additionally,
    customers expect billers to be more proactive, with 59 percent
    expecting reminders such as bill due alerts. Forty-four percent of
    billers are now offering bill due alerts with sixteen percent set to
    deploy in the next six to 12 months.
  • Biller Concerns Shift from Technology to Security and Compliance
    – Billers are growing more comfortable with the implementation of
    mobile technology. As this occurs, billers now list their top concerns
    as ensuring the security of transactions, followed by the cost of
    mailing paper bills and regulation and compliance requirements, such
    as PCI compliance, associated with an uptick in card-funded payments.

A white paper – “Mobile Billing and Payment: Consumer Preferences and
Billers’ Strategic Response” – is available for download at https://www.fiserv.com/Biller-Mobile.
The white paper highlights the survey findings with additional insights
on consumer behavior and recommendations for billers.

“Consumers want financial services that fit effortlessly into their
lives – mobile offerings provide that compelling convenience. Mobile
bill pay offers the proven ability to draw customers to the mobile
platform on a recurring basis, leading to a more engaged and satisfied
customer,” said Jim Lester, senior vice president, Product Management,
Biller Solutions, Fiserv. “These benefits also bring elevated customer
expectations, technology demands, complexity and risk. Billers need to
act by implementing a comprehensive MBPP strategy that incorporates
simple and easy user experiences, robust security, compliance protocols
and payment cost optimization.”

In a world that is moving faster than ever before, Fiserv helps clients
deliver solutions that are in step with the way people live and work
today – financial services at the speed of life. Learn more at TheSpeedofLife.com.

Research Methodology

The Fourth Annual Biller Mobile Bill Pay Benchmark Study was conducted
by Blueflame Consulting LLC and commissioned by Fiserv in May 2015. The
study leveraged survey and telephone interview data collected from 133
billing organizations of various sizes and from various industries,
including utilities, municipalities, insurance and telecom companies,
and financial organizations.

Additional Resources

About Fiserv

Fiserv, Inc. (NASDAQ: FISV) enables clients to achieve best-in-class
results by driving quality and innovation in payments, processing
services, risk and compliance, customer and channel management, and
business insights and optimization. For more than 30 years, Fiserv has
been a leader in financial services technology, and today is among
FORTUNE® magazine’s World’s Most Admired Companies and Forbes magazine’s
America’s Best Employers. For more information, visit www.fiserv.com.

FISV-G

Contacts

Media Relations:
Julie Smith
Senior Manager, Public
Relations
Fiserv, Inc.
412-225-3182
julie.smith@fiserv.com
or
Additional
Contact:

Ann Cave
Director, Public Relations
Fiserv,
Inc.
678-375-4039
ann.cave@fiserv.com