U.S. Consumers Expect More Mobile Options for Bill Pay
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Get all the insights and stats in a single PDF by filling out the form to the right. By filling out the form, you’ll also gain access to related research, including:
- How Consumers Pay Bills: Expectations vs. Reality
- Driving On-Time Payments: What Makes Customers Pay Late
- What the Newest Generation of U.S. Consumers is Saying About Bill Pay
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The rise of digital wallets
An overwhelming majority of smartphones come pre-loaded with digital wallets—most notably Apple Pay, Google Pay and Samsung Pay. Consumers expect wallets to play a much larger role in the bill pay process, and smart billers are taking note of this trend.
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Wallet spending is on the riseAccording to Juniper Research, global wallet spend will exceed $10 trillion in 2025 - up from $5.5 trillion in 2020.
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The bill pay gapEven though 42% of those surveyed expressed interest in using wallets for bill pay, only 22% are currently doing so today.
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About this research
PayNearMe conducted an online survey in April 2021 to determine perceptions and preferences for how U.S. consumers want to pay their bills.
What we aimed to learn:
- How consumers want to pay their bills
- The mobile payment types and channels consumers care about most
- What consumers expect from mobile payment experiences
- How businesses must adapt to meet these new expectations