18 August 2017
visit www.avoka.com

E-billing report predicts new revenues for banks

14 November 2000  |  1869 views  |  0 E-billing report predicts new revenues for banks

A study conducted by TowerGroup on consumer-orientated electronic bill presentment and payment (EBPP) reports that US billers could save $5.5 billion from a conversion from paper-based transactions to EBPP.

Research tracking current investments in the US billing and payments process estimates that current annual expenditures for billing and bill payment total $86 billion across banks, billers, third-party vendors, consumers and the US Postal Service.

The report claims banks and third party vendors have the greatest potential to generate new revenue, projecting that banks could add $7 billion in new revenue with full conversion to EBPP, while third party vendors could generate an additional $15.7 billion.

Beth Robertson, TowerGroup, who conducted the research says biller migration to EBPP has begun to accelerate over the last year, as technologies to support electronic delivery have reached greater maturity.

She predicts consumer interest in EBPP will build as a wider variety of bills are available online and says banks can build on their current customer and transaction processing franchises to recognize considerable new revenue and retention opportunities.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Bank of America rolls out EBPP

Bank of America rolls out EBPP

14 November 2000  |  2528 views  |  0 comments
EBPP to become competitive necessity for banks

EBPP to become competitive necessity for banks

02 October 2000  |  2736 views  |  0 comments
Banks risk being left behind as EBPP takes off

Banks risk being left behind as EBPP takes off

21 September 2000  |  2772 views  |  0 comments

Related blogs

Create a blog about this story (membership required)
download the paper nowvisit www.worldpaymentsreport.comvisit www.niceactimize.com

Top topics

Most viewed Most shared
Mobile contactless spending accelerating in UKMobile contactless spending accelerating i...
7391 views comments | 21 tweets | 22 linkedin
Norwegian banks and startups form fintech clusterNorwegian banks and startups form fintech...
7236 views comments | 19 tweets | 23 linkedin
hands typing furiouslyWhy Blockchain Might Not Be The Future For...
5976 views 1 | 5 tweets | 3 linkedin
RBS to bring Silicon Valley to EdinburghRBS to bring Silicon Valley to Edinburgh
5841 views comments | 10 tweets | 7 linkedin
Apple sidelined as Beijing transit system launches payments appApple sidelined as Beijing transit system...
5802 views comments | 11 tweets | 9 linkedin

Featured job

London, UK (or flexible)

Find your next job