The Seventh Annual Billing Household Survey from Fiserv revealed that mobile bill payment use is growing rapidly among U.S. consumers, with 27 million U.S. online households paying at least one bill from their phone, up nearly 70 percent over 2013.
While the popularity of mobile payments continues to accelerate, billers would be wise not to neglect other channels and methods, as the survey also showed that consumers not only prize choice, they use an average of three different payment methods each month.
"Mobile bill pay is becoming a go-to-channel alongside traditional bill payment methods, creating a ripe opportunity for billers to rethink and expand their multichannel strategies to help stimulate customer satisfaction," said Eric Leiserson, senior research analyst, Biller Solutions, Fiserv. "Billers that cast a wider billing and payment net with offerings that meet the diverse needs of their customers extend their reach and build stronger, more loyal relationships with customers across channels."
Overall survey results indicated that a strong relationship exists between customer satisfaction and the billing and payment experience. Based on the survey findings, billers should consider the following billing and payment strategies to improve customer satisfaction and loyalty: make mobile bill pay a priority, give consumers choice with multiple billing and payment methods, enable emergency and non-registered "guest checkout" payment options, and help consumers by offering bill pay due alerts.