Boston, January 24, 2017 – U.S. consumers paid approximately 14.7 billion bills in 2016, shelling out roughly US$3.9 trillion. Paying these bills previously required a relatively simple cash or check transaction, but paying the bills now entails a wide range of transactions involving many different payment methods and channels. Over the last few years, consumers have been significantly reprioritizing how and when they pay their bills, and U.S. consumer bill payment trends are shifting.
This report, sponsored by ACI Worldwide, sizes the channels and methods consumers use to pay their bills in 2016, uncovers insights into how all generations pay bills, and analyzes bill payment volume and gross dollar value across the 29 most popular bill categories. It is based on a Q3 2016 Aite Group survey of 2,429 U.S. consumers.
This 84-page Impact Report contains 15 figures and 63 tables. Clients of Aite Group’s Retail Banking & Payments service can download this report, the corresponding charts, and the Executive Impact Deck.