News

Report: Technologies and trends shaping walk-in bill payment

The report provides a perspective on walk-in bill payment market transactions, dollar volume, and revenue, and highlights changing trends.

December 11, 2014

A new research report from Mercator Advisory Group, "Walk-in and Alternative Bill Payments in the United States," delves into the traditional walk-in bill payments market and the core constituency that drives the business—the unbanked and underbanked consumer.

The report provides a perspective on walk-in bill payment market transactions, dollar volume, and revenue. In addition, it highlights changing trends in the market today, compared with 2011.

A portion of the report explores the major vendors operating in the walk-in bill payment market. The final section looks into alternative bill payments (specifically online and mobile) and highlights the major areas of growth in the online channel and consumer attitudes towards alternative bill payments.

According to a statement by Ron Mazursky, director of debit advisory service at Mercator and co-author of the report:

Walk-in bill payments has provided valuable services to the unbanked and underbanked population, and it continues to grow. However, the evolution of this service into the online and eventually the mobile space will further expand the customer base, as it picks up many times the number of users in the banked market.

Highlights of the report include:

• an exploration of un- and underbanked segments in terms of size and impact on walk-in bill payments;
• analysis of factors affecting the walk-in bill payment market;
• a comparison of leading walk-in bill payments vendors and processors; and
• a discussion of alternative bill payments, and specifically, growth and direction of the online and mobile segments.

One of 10 exhibits in the 21-page research report: