Number of bill payments processed by Fiserv triples

Increase in mobile bill payments

Fiserv has announced that the number of mobile bill payment transactions processed through its biller direct solutions and MyCheckFree website, a direct to consumer payment portal, tripled within the past 24 months, rising from about 4% of bill payment transactions to about 15%.

Biller direct solutions enable consumers to receive and pay bills directly at the company’s site, while MyCheckFree enables consumers to receive and pay bills from multiple companies at a single site.

“The rapid growth of mobile bill payments is having a significant impact on billers,” said Gwenn Bezard, Research Director, Aite Group. “Billers of all sizes and across all verticals are responding to deliver better mobile bill payment capabilities, with options such as mobile-optimized websites and even company-branded apps, as more consumers turn to their smartphones and tablets to conduct financial transactions.”

The Biller Mobile Bill Pay Benchmark Study commissioned by Fiserv indicates that billers are turning to the mobile channel to enhance and extend customer service (94%); increase paperless billing (82%), increase customer usage of self-service (76%) and meet customer demand (74%). 

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