How Mobile Can Open The Door To $2.1 Trillion In Bill Payments

Overview:

In its latest report Javelin Strategy & Research focuses on the fact that “paying bills is an inescapable necessity for consumers, with $2.1 trillion in payments annually for just seven common types of bills in 2013.  They go on to say that the mobile bill payment industry is in its infancy – accounting for $36 billion for those seven bills.

However, they are quick to point out that “…  the first wave of consumers already is typically pulling out a smartphone or tablet to pay, and mobile bill payments are primed for rapid growth”.

This latest report, which is a follow up to Javelin’s September “2013 Online Banking and Bill-Payment Forecast”:

• Provides an overview of dollars flowing through the bill-payment market; breaks down online, mobile, and offline bill-payment volume; and identifies banks with market-leading adoption.
• Spotlights 140 million Americans who will lead adoption of mobile bill payments.
• Analyzes how to tailor mobile bill payment to cater to each segment’s unique expectations.
• Evaluates how each segment perceives the strengths of banks and credit unions, billers, and third-party providers to deliver 11 demands relating to security, control, and practicality.