The Flexibility Factor: Mapping Consumer Demand For Bill Payment Innovation
NEW DATA: 66% Of Consumers Skip Their Banks’ Bill Pay Services
Two-thirds of consumers choose to pay their bills directly with billers rather than using their banks’ bill payment services. In The Flexibility Factor: Mapping Consumer Demand For Bill Payment Innovation, a PYMNTS and BillGO collaboration, we asked over 2,200 consumers what it would take for them to make the bank, and not the biller, their bill payment go-to.
Inside the September Study
- 69 percent: Share of consumers who want bill scheduling features
- 51 percent: Portion of consumers who had a late payment who managed it by waiting until they had enough funds
- 58 percent: Share of card-paying subscribers who are concerned about data breaches when paying with a debit or credit card