Consumers are becoming increasingly focused on mobile, meaning that mobile bill payment has become a must-have service to meet competition and demand. Read this research paper from Fiserv to learn what consumers are doing and how billers are responding.
Key Takeaways for Billers
Armed with the information that both the Household Billing Survey and the Biller Mobile Bill Pay Benchmark Study provide, there are some key takeaways that billers can use to strengthen their mobile offerings:
Overcoming the Barriers
- Consistency is key – To meet the usage patterns of various consumers, billers should offer multiple access channels and ensure the channels all have a consistent look and feel
- Offer features that spur adoption – A place to start is mobile photo capture, which addresses the top two barriers to adoption and is also the No. 1 motivator for consumers to use the mobile channel
- Promote mobile bill payment – Most often, when a consumer visits a biller’s mobile website, it’s to pay a bill. But if billers don’t highlight that functionality and make it readily available, consumers may not go searching for it
- Plastic is important -- More and more consumers – especially young adults – don’t carry a checkbook anymore. They’re used to using their debit cards for all purchases – both at the point of sale and online. Offering not only mobile bill pay options but card capability is critical to serve this market segment