Displaying 1 - 10 of 67 Bill Pay blog posts
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Utilities: It’s Time to Put Your Arrears Behind You
Wednesday, April 07, 2021 Dan Bolger to Bill PayAs 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. But, as the pandemic continues, many states are beginning to lift those moratoriums, leaving customers responsible for paying back the $40+ billion in debt they owe to their utilities billers.
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How to Resolve Delayed Mail Issues with Digital Payments
Thursday, April 01, 2021 Autumn Flora to Bill PayIn 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. While mail delays may be considered a minor inconvenience for some consumers who receive late-arriving packages, there can be serious implications for those who rely on traditional mail to receive and pay their bills each month.
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Data Security Is Table Stakes for Bill Payment – Communication Can Be the Competitive Differentiator
Friday, February 26, 2021 Raj Vaidyanathan to Bill PayMore 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. But, despite these concerns, consumers have embraced the convenience that digital technology brings to their daily lives. Fortunately, these new digital experiences have been positive and are driving consumer confidence in data security: nearly half of those surveyed believe their data is safer than it was five years ago.
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12 Ways Americans Changed How They Pay in 2020
Monday, December 21, 2020 Steve Mountz to Bill PayACI experts recently shared their predictions and industry expectations for billing and payments in 2021 and beyond. As we close out 2020, let us look back at just how much billing and payments have changed this year:
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Billing Experts Predict Consumers Will Be Driving Force Behind Payments Industry Changes in 2021
Wednesday, December 09, 2020 Michael Grillo to Bill PayAs 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.
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Customer Experience: A Key Ingredient for Biller Success
Tuesday, December 01, 2020 Autumn Flora to Bill PayToday’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.
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Filling the Gaps: How Higher Ed Institutions Can Put Money Back into Their Budgets
Monday, November 09, 2020 Peter Drew to Bill PayAt a time when budgets at colleges and universities are tighter than a snare drum, where can schools turn to find the funds for their finance and IT departments? Sure, donors and alums may be tempting sources, but one answer to this funding issue is actually quite simple:
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How Billers Can Adapt to a Changing Payments Security Landscape
Wednesday, October 28, 2020 Raj Vaidyanathan to Bill PayMore 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.
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Cut Your Losses – It’s Time to Digitize Medical Loss Ratio Rebate Payments
Wednesday, September 23, 2020 David Young to Bill PayThe 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.
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Recurring Success: Exploring Subscription Payment Trends
Thursday, September 03, 2020 Mike Rogers to Bill PayWhen you think of recurring monthly expenses, there are certain obvious bills that come to mind: mortgage or rent, utilities and phone bill, among others. But today, monthly recurring expenses increasingly include things like online streaming services (music and entertainment), meal kits, pet treats, video games and clothing. It seems there’s a subscription service for everything these days — and consumers are taking full advantage.