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Electronic bill presentment and payment refers to a process that allows bills to be created, delivered, and paid online. Changing payment landscape across the globe resulting in increased adoption of debit and credit cards is one of the major trends supporting demand for electronic bill presentment & payment solutions across diverse industry verticals. Banks and financial institutions have been playing a major role in bringing about this transformation by offering debit cards to all account holders. Electronic bill presentment is also referred to as e-billing, e-invoicing etc. In the United Kingdom, the number of users for digital payments rose to more than 600 million positively impacting the electronic bill presentment and payment market.
Mobile internet enables on-the-go access to various payment portals and enables customers to carry out various transactions such as payments using credit card and debit card, online bank transfer and access latest e-bills via e-mails instantaneously which helps in electronic bill presentment and payment.
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Additionally, the increased penetration of notebooks and laptops, gaining trend of BYOD (Bring Your Own Devices), increase in internet enabled smart phones and growth of mobile internet networks are also expected to contribute in the Electronic Bill Presentment and Payment (EBPP) market.
Key Players in Electronic Bill Presentment and Payment (EBPP) Market Include, Visa, Inc., CyberSource Corporation, Bottomline Technologies Inc., Communications Data Group Inc., CSG Systems International Inc., Discover Financial Services, Enterprise jBilling Software Ltd., Fiserv Inc., ACI Worldwide Inc., MasterCard Inc., Pagero AB, PayPal Holdings Inc. etc.
· Electronic Bill Presentment
· Electronic Bill Payment
· Electronic Bill Posting
· Bill Consolidator
· Banks & Financial Institutions
· Application Programming Interface (API)
By End Use Industries
· IT & Telecom
· Media & Entertainment
· North America (USA and Canada)
· Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)
· Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
· Latin America (Brazil, Mexico and Rest of Latin America)
· Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa)
In North America, the US has the most developed market for EPBB in terms of full presentation and payment facilities, the venders and billers have widely adopted these solutions and mobile payment is preferred mode of payment among people. The market is also affected by restrictions imposed by government on the use of Electronic Bill Presentment and Payment (EBPP) on roads across several cities of some major countries such as New York and California in Global and United States, New South Wales in Australia, Netherlands, Dubai, etc.
In Asia Pacific, the internet penetration and smartphone penetration rate has increased benefitting in smooth digital payments. In India, E-commerce sales are also increasing, with the improvement of digital payment experience. The rapidly increasing internet speed and other technological advancements related to internet are assisting the businesses in smooth online payments. This technological advancement is compelling the sellers to adopt online business models wherein payments are done online through credit cards, wallets and third party services. This increase also reflects consumers increasing comfort with online shopping which would contribute positively in the electronic bill presentment and payment (EBPP) market.
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