Twenty-nine percent of billers rank credit and debit card acceptance as their leading cost concern. Following very closely behind are bill presentment costs, with 28% of billers indicating concern, and duplicate paper and electronic bill presentment costs
Boston, MA, October 17, 2007 – A new Impact Report from Aite Group, LLC assesses the level of concern small to midsize billers have over their bill payment and presentment operation costs, the likelihood of billers to introduce or replace critical technologies, and their prospective bill payment and presentment initiatives in the next 24 months.
The report, titled "Billers' Technology Priorities: A Survey," is based on a survey conducted in July 2007 of 200 U.S. billers, including utilities, insurance carriers, hospitals, telecom carriers, property management firms, mortgage firms and cable/TV companies. It reveals that billers are most concerned with credit and debit card costs, followed by paper bill presentment costs and the costs associated with card acceptance and presentment issues. Of the total respondents, 29% are concerned to definitely concerned by credit and debit card acceptance costs; 28% are concerned to definitely concerned by paper bill presentment costs; and 27% are concerned to definitely concerned by duplicate paper and electronic bill presentment costs generated when customers keep receiving paper bills while also signing up for electronic versions.
"About one-fourth of billers are interested in working more closely with online bill-pay processors to reduce paper exception items and errors," says Gwenn Bézard, research director at Aite Group and author of this report. "This is very encouraging for networks and processors seeking to increase the efficiency of the consolidator model."
This 44-page Impact Report contains 29 Figures. Clients of Aite Group's Retail Banking Service can download the report.