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Summary: Consumer preferences regarding payments have undergone a sea change over the last few years. Individuals need for convenience and control over the timing and frequency of payments has driven consumers to seek dynamic options like the Internet and
telephone for bill payments. Hooked on the convenience of using multiple payment options, consumers are now demanding a variety of alternatives from their billers. A surprisingly significant number of consumers are even willing to pay a fee for the
convenience of using their preferred channel or payment timing. Our research reveals trends in the consumer bill payment landscape and questions that billers are facing in this area — around payment channels and types, convenience fees and solution provider evaluation—and helps them formulate a comprehensive and feasible billing and
payment strategy.
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