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Displaying 1 - 10 of 59 Bill Pay blog posts

  • Digitize Medical Loss Ratio Rebate Payments

    Cut Your Losses – It’s Time to Digitize Medical Loss Ratio Rebate Payments

    Wednesday, September 23, 2020

    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.

  • Exploring Subscription Payment Trends

    Recurring Success: Exploring Subscription Payment Trends

    Thursday, September 03, 2020

    When 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.

  • Generational Preferences in Bill Payments

    Age Matters: Generational Preferences in Bill Payments

    Tuesday, August 11, 2020

    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%).

  • Utilities Industry into a New Era of Bill Payments

    Bringing the Utilities Industry into a New Era of Bill Payments

    Thursday, July 30, 2020

    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.

  • Changes in Consumer Search Behavior

    Changes in Consumer Search Behavior in the Wake of COVID-19

    Monday, July 20, 2020

    It’s been several months since COVID-19 became a widespread pandemic and a central focus of every aspect of our lives. Businesses are evolving to meet demands and consumers are thinking about their personal finances very differently, especially when it comes to paying bills. Consumer search behavior has drastically changed during COVID and will continue to do so, especially as 1 in 4 consumers who pay a monthly bill have contacted their biller(s) for payment arrangements or deferrals during this time.

  • Going Digital at the Deadline

    Going Digital at the Deadline: America’s Electronic Tax Revolution

    Tuesday, July 14, 2020

    The Beatles once famously sang, "I'm the taxman, and you’re working for no one but me.” Though the sentiment may be true, governments looking to drive more on-time collections must also accommodate shifting citizen tax and bill payment preferences.

  • Digital Transformation of Tax Filing

    The Digital Transformation of Tax Filing and Payment and Why Some Communications Still Require Paper

    Tuesday, July 07, 2020

    With the extended 2019 income tax filing deadline approaching, Americans now have more options than ever to submit their returns and pay taxes using digital methods. While Form 1040 has been around for more than 100 years, digitally filing income tax returns started off slowly in the mid-1980s.

  • The Future of Insurance Customer Relations

    Digital Disbursements: The Future of Insurance Customer Relations

    Wednesday, July 01, 2020

    In the insurance industry, where the cost of acquiring a new customer is 7 to 9 times more expensive than retaining an old one, strong customer relationships are vital to success. And, in the wake of the COVID-19 pandemic, adapting to customers’ needs is more critical than ever. To remain competitive, providers must continually evolve to meet the growing expectations of today’s insurance policyholder. Despite advancements in payment technology, more than a third of business-to-consumer disbursement payments are still made by check. This can be an expensive and slow process for insurers, especially in comparison to faster payment methods available. Many consumers now expect far more direct and advanced payment processes.

  • Billing and Payments in 2020

    Billing and Payments in 2020: Ten Best Practices to Drive Digital Adoption and Engagement, Help Customers and Reduce Your Costs

    Friday, May 15, 2020

    In today’s changing times, both consumers and billers are experiencing more stress in managing bills and payments. Consumers may need to make payment arrangements or adjust how they pay their bills if they no longer can pay in person. Meanwhile, billers are scrambling to adjust to taking calls and receiving payments remotely and securely. ACI Worldwide has focused on meeting changing billing and payment needs since 1975, and we’ve compiled a list of best practices to help billers help their customers manage their bills and payments.

  • Better Billing Experience for Students

    Higher Education Payments: Creating a Better Billing Experience for Students, Families and the Institution

    Thursday, April 02, 2020

    For students and their families alike, paying for college may be one of the most stressful situations they can face. According to The Princeton Review’s 2020 College Hopes & Worries Survey Report, more than half of parents expect their child’s college degree—four years of tuition, room & board, fees, books and other expenses—to cost $100,000. Such a large and important cost deserves a corresponding payment system that matches up.