For eBusiness & Channel Strategy Professionals (Length: 13 pages)

November 3, 2008

US Banks Are Losing Bill Pay Ground To Biller Sites

Quitters And Fence-Sitters Prefer Billers Over Banks

This is the fifth document in the "Growing EBPP Adoption And Usage" series.

by Emmett Higdon

with Benjamin Ensor, Peter Wannemacher, Courtney Tincher

Executive Summary (This is a document excerpt)

Since Forrester first started tracking where US online consumers pay bills, biller sites have always led the way. Although banks had been closing this gap over the past five years, bank bill pay growth has stalled in the past 12 months, while the number of biller site bill pay users has grown 17%. What's driving the growth? The usual suspects: ease of use, speed of payments, and availability of same-day and credit card payments. eBusiness executives at banks and credit unions will need to match the simplicity and flexibility of biller sites if they are to attract, and retain, the next generation of bill pay customers.

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