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Biller Tie-ups |  |
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A report released Thursday by Jupiter Research predicts that by 2005, more than 40 million U.S. households will pay at least part of their bills using online bill paying services. The report also advises banks to "forgo
selfish interests" and form alliances with online electronic
bill payment and presentment services (EBPP).
The nation's biggest banks are so eager for people to use their Web sites that some are now offering customers big bonuses or other perks for signing up to make online payments. Several are putting on sweepstakes for customers, with prizes like sport utility vehicles.
Online Bill Payment Will Be the Fastest-Growing Online Financial Application in 2003. STAMFORD, CONN., February 20, 2003 — As consumers continue to seek ways to save time and money, the use of online bill payment is becoming increasingly popular. In 2003, online bill payment in the United States is predicted to increase nearly 38 percent to 40 million users, forcing banks to make it a top priority in order to remain competitive, according to Gartner, Inc. (NYSE: IT and ITB).
Consumers are growing fonder of online bill payment.The number of people clicking through bills in the United States will increase nearly 38 percent from 2002 to 40 million, according to market research firm Gartner (Stamford, CT). In 2001, only 15 million used computers to pay bills.
(New York, NY - October
14, 2002) - Jupiter Research, a division of Jupitermedia Corporation
(Nasdaq: JUPM) (formerly INT Media Group, Inc.), today reported
that online bill viewing and payment will be among the fastest
growing consumer applications over the next three years. By 2006,
more than 50 million households will view bills online and 52
million households will pay at least one bill online. This represents
a compound annual growth rate (CAGR) of 23% over 2001's figure
of 18 million U.S. households who viewed at least one bill online.
Despite current hesitation by consumers to
pay their bills electronically, a new study foresees a bright
future for the young market.
Maybe it's less painful than writing a check
or handing over cash, but consumers are growing fonder of online
bill payment.
The Indian banking sector is slowly but surely realising the benefits of using services offered by ASPs. Access to the latest technology at the lowest possible investment, with an added advantage of a substantial reduction in transaction costs are just some of the benefits of outsourcing from an ASP. Rajneesh De & Chitra Padmanabhan illustrate how these offerings prove especially beneficial to banks in an era where it is becoming increasingly important to offer the customer a variety of services at the lowest cost..
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Jupiter Research
Report: Online Bill Pay Set for Boom 
