Progressive Platform Modernization — Eight Steps to Success
The European Commission’s Proposal for a New Consumer Credit Directive: Will This Create a Harmonized European Consumer Credit Market?
What’s Next for Real-Time and Digital Payment Experiences?
Top Three Considerations for the Acceleration of the Digital Economy in LATAM
Mobile Wallet Payments Are on the Rise — But What About for Bill Pay?
While consumers have spent more time at home and more time on their mobile devices, a growing number of them have set up mobile bill notifications — and billers need to take notice, especially when it comes to advances like mobile wallets.
Exploring the Current State of Property Tax Payments
People across the U.S. may disagree on the best style of pizza, or whether to call it soda or pop, but they’re fully united in their desire for simple, convenient property tax payments.
Utilities: It’s Time to Put Your Arrears Behind You
As the economic crisis caused by the COVID-19 pandemic left many utilities customers financially insecure and unable to pay their bills, states across the country issued unprecedented moratoriums on utility shutoffs.
How to Resolve Delayed Mail Issues with Digital Payments
In light of the pandemic, the United States Postal Service (USPS) has been facing its own crisis. In late December 2020, only 38 percent of non-local first-class mail arrived on time, compared with 92 percent during the same time period in 2019.
Data Security Is Table Stakes for Bill Payment – Communication Can Be the Competitive Differentiator
More than 80 percent of consumers are at least somewhat concerned about online identity theft, and nearly half are concerned about the safety of their personal information when paying online, according to the latest ACI Speedpay Pulse.
12 Ways Americans Changed How They Pay in 2020
ACI experts recently shared their predictions and industry expectations for billing and payments in 2021 and beyond.
Prime Time for Real-Time
Global Payment Trends
As the world adopts real-time payments, how does your market stand to benefit?
Billing Experts Predict Consumers Will Be Driving Force Behind Payments Industry Changes in 2021
As we near the end of 2020, the pandemic and its resulting economic fallout continue to wreak havoc: COVID-19 cases are increasing, raising concerns about an economic recession and instilling uncertainty among consumers about their financial security. In fact, 15 percent of consumers who responded to a recent ACI Speedpay Pulse survey reported that the pandemic was a direct factor in missing a bill payment. And of those consumers who currently have past-due payments, more than a third believe it will take them at least six months to catch up on late bills.
Customer Experience: A Key Ingredient for Biller Success
Today’s consumers are looking for fast and seamless experiences across the board, including when it comes to making bill payments. Understandably, slow and inconvenient experiences lead to lost loyalty and likely attrition – especially with consumers paying up to 10 bills per month, according to recent findings from the ACI Speedpay Pulse.
How Billers Can Adapt to a Changing Payments Security Landscape
More and more consumers are adopting digital channels like websites and mobile apps to pay their bills; but at the same time, hackers are becoming more sophisticated and cyberattacks are increasing in frequency. In fact, nearly 20 percent of consumers have fallen victim to online identity theft, according to our most recent ACI Speedpay Pulse, pointing to an opportunity for billers to up the ante when it comes to security measures.
Cut Your Losses – It’s Time to Digitize Medical Loss Ratio Rebate Payments
The deadline to issue medical loss ratio (MLR) rebates for 2020 is next week, yet many health insurers are meeting the requirement by sending paper checks in the mail. Meanwhile, only seven percent of health care premium payments are paid by check, according to the 2020 ACI Speedpay Pulse survey on billing and payment preferences. Policyholders receiving these checks may not understand why they are receiving them – if they even open the envelope in the first place.
Age Matters: Generational Preferences in Bill Payments
Digitalization has taken the mainstage in the payments industry due to changing consumer preferences and now, in the midst of the COVID-19 pandemic, necessity. According to the 2020 ACI Speedpay Pulse report, one in four consumers has increased their usage of the biller’s website to pay bills, while one in five has decreased the number of payments they send by mail or make in person at a physical location. In addition, more consumers prefer digital statements (48.2%) to paper statements (25%), while around a quarter prefer to receive both digital and paper (26.8%).
Bringing the Utilities Industry into a New Era of Bill Payments
In the age of customer-centricity, aided by the ubiquity of connected devices, consumer preferences around billing and payment methods – as well as channels – are changing at pace. And based on the newly released ACI Speedpay Pulse study of consumer billing and payment trends, consumers are adopting new technologies when it comes to billing and payment for utilities.