• 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

• Blog - Billing and Payment: Why Mobile Changes Everything - http://fisv.co/BillerBenchmarkBlog

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.

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View source version on businesswire.com: http://www.businesswire.com/news/home/20160303005457/en/

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

Source: Fiserv, Inc.

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