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Shattering the Myths Surrounding Biller-Direct

Published by: TowerGroup

Published: Oct. 4, 2004 - 9 Pages


Table of Contents


TowerGroup Take-Aways




Report Coverage




Examining the Myths

Immediate Credit?


Exhibit 1: Posting Practices for Online Bill Payments Initiated at Leading US Biller-Direct Sites (2004)


Credit Card Payment?


Exhibit 2: Percentage of Leading US Biller-Direct Sites That Offer Credit Card as a Payment Option (2004)


More Bills?


Exhibit 3: Average EBPP Adoption Rates Experienced by US Consumer Billers (2004)


Free Services?


Exhibit 4: Percentage of Leading US Billers That Charge Consumers for Same-Day Credit (2004)


Value-Added Functionality?




Why Are Biller-Direct Sites Successful?




Summary

Abstract

As online bill presentment and payment have become more commonplace and as consumers have increasingly chosen to view and pay bills online, "biller-direct" sites have soared in popularity. During 2004, more than 90% of the bills presented online will be delivered at biller sites. Further, while total online bill payment volume remains higher at consolidator sites (such as banks, brokerages, or portals), the number of bill payments at US biller-direct sites is expected to climb 38% in 2004 over 2003's level.

Biller-direct, it is said, is successful for five key reasons:
  • Consumer accounts with a biller are credited immediately.
  • Consumers can use credit cards to make online bill payments at biller-direct sites.
  • Consumers can access a larger number of their electronic bills by visiting biller-direct
    • sites.
  • Biller-direct delivery and bill payment is free.
  • Biller-direct sites offer deep value-added functionality and information associated with
    • billing and payment.
TowerGroup's examination of leading biller-direct sites raises doubts, however, about the full verity and reliability of these hypotheses. Is biller-direct, in fact, successful for other reasons or, in some cases, even in spite of itself? This TowerGroup Research Note takes a closer look at the myths surrounding biller-direct delivery and shows that the case for biller-direct has not been conclusively made.

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