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DUBLIN--(BUSINESS WIRE)--Mar 28, 2023--
The "Electronic Bill Presentment & Payment Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2023 to 2031" report has been added to ResearchAndMarkets.com's offering.
This study report represents analysis of each segment from 2021 to 2031 considering 2022 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2022 to 2031.
Companies Mentioned
Increased adoption of credit and debit cards coupled with advancements in payment technologies is expected to fuel market momentum during the forecast period. Swift growth in the e-commerce sector and growing preference for cashless transactions has had positive impact on the growth of the electronic bill presentment & payment market worldwide.
There exist two common models for electronic bill presentment and payment. Biller-direct model involves a company employing its own recognized portal to facilitate direct payments from customers. The biller-direct model offers maximum customer interaction by permitting the biller to control marketing messages. Today, biller-direct EBPP solutions are majorly used by utility companies. With the use of biller-direct EBPP solutions, utility companies send an electronic bill to their customers.
Consequently, customer makes a payment directly to the company. Thus, there are no intermediaries involved in these transactions. The demand for biller-direct solutions is anticipated to increase, expanding their application base beyond utilities during the forecast period.
For instance, with the growing popularity of alternative payment solutions (mobile payment), healthcare providers across the globe are expected to implement new electronic bill presentment & payment solutions capable of accommodating the changing payment landscape.
Although this model bodes well for a biller and its business partners, it is less convenient for consumers since they need to visit multiple web sites to view statements and pay bills. On the other hand, bank-aggregator model refers to making payment for multiple bills electronically through bank. Thus, this model provides a single medium where consumers can visit to view and pay all their bills and statements, thereby improving customer experience.
One of the major obstacles to widespread adoption of electronic bill presentment and payment solutions lies in the intricacy of billing systems and processes adopted by competing financial institutions and banks. Some financial institutions have resisted implementing electronic bill presentment and payment solutions for fear of being unable to cross promote other services to customers.
In addition, disagreements over adopting uniform security and implementation standards have further stalled the adoption of electronic bill presentment and payment solutions.
Key questions answered in this report
Key Topics Covered:
1. Preface
2. Executive Summary
3. Electronic Bill Presentment & Payment Market: Competitive Analysis
3.1. Market Positioning of Key Electronic Bill Presentment & Payment Market Vendors
3.2. Strategies Adopted by Electronic Bill Presentment & Payment Market Vendors
3.3. Key Industry Strategies
3.4. Tier Analysis 2022 Versus 2031
4. Electronic Bill Presentment & Payment Market: Macro Analysis & Market Dynamics
4.1. Introduction
4.2. Global Electronic Bill Presentment & Payment Market Value, 2021 - 2031, (US$ Million)
4.3. Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Key Challenges
4.3.4. Key Opportunities
4.4. Impact Analysis of Drivers and Restraints
4.5. See-Saw Analysis
5. Electronic Bill Presentment & Payment Market: By End-use Vertical, 2021-2031, USD (Million)
6. North America Electronic Bill Presentment & Payment Market, 2021-2031, USD (Million)
7. UK and European Union Electronic Bill Presentment & Payment Market, 2021-2031, USD (Million)
8. Asia Pacific Electronic Bill Presentment & Payment Market, 2021-2031, USD (Million)
9. Latin America Electronic Bill Presentment & Payment Market, 2021-2031, USD (Million)
10. Middle East and Africa Electronic Bill Presentment & Payment Market, 2021-2031, USD (Million)
11. Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/x50zvx
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SOURCE: Research and Markets
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PUB: 03/28/2023 06:27 AM/DISC: 03/28/2023 06:26 AM
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