Mobile apps and digital channels are quickly gaining popularity for bill payments, according to the recently released 2019 ACI Speedpay® Pulse study. See what's driving this and explore more key findings.
Editor's Note This article originally appeared on ACI Worldwide's website.
ACI Worldwide (NASDAQ: ACIW), a leading global provider of real-time electronic payments and banking solutions, has announced the results of the 2019 ACI Speedpay® Pulse, a longitudinal consumer billing and payment trends and behaviors research study of more than 3,000 adult consumers in the U.S. The findings show that consumer preference for convenience, speed and simplicity is driving the adoption of digital and mobile channels as usage of traditional payment channels and methods decreases.
Key findings from the 2019 ACI Speedpay Pulse include:
Digital and mobile-first approach on the rise for bill payments
- 21 percent of consumers used a company’s mobile app to pay a bill in Q1 2019, compared to 19 percent in 2018
- Over the past year, more than 1 in 5 consumers have increased their usage of a company’s website (26 percent) to pay bills, while the same number of consumers have decreased their usage of mail (22 percent) or in-person (21 percent) payments at the company’s location
- 31 percent of consumers have paid a bill through a bank’s website
- Approximately 2 in 5 (39 percent) of those who use mobile wallet payment methods say they have paid a bill through a mobile wallet Click here to continue>>
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