Seventh Annual Billing Household Survey from Fiserv

Key insights to improve customer satisfaction and lower costs with optimized billing and payment practices

Since 2008, we have sponsored the industry’s most comprehensive survey to find out...

How

do consumers receive and pay their bills?

Consumers are demanding a wider range of choices in how they manage their bills and payments—whether it’s a single channel or multiple channels.

What

do consumers expect and demand in terms of billing and payments?

Consumers expect choices to meet their needs. Whether it's online or mail, mobile or walk-in, cash or credit cards – consumers desire options.

Where

can billers improve satisfaction and profitability?

Billers can improve satisfaction by making mobile bill pay a priority, giving consumers more payment choices, enabling guest checkout, and offering bill pay reminders.

Eric Leiserson

Senior Research Analyst
Fiserv

Eric Leiserson

Senior Research Analyst
Fiserv

“To improve customer satisfaction, billers should provide easy, convenient options including online banking, mobile, walk-in cash payments, mail, credit, debit and prepaid cards and promote e-bill adoption.”

How many 

bill payment methods

 do most consumers use monthly?

That's right, 52% of consumers are using 3 or more methods of bill pay.

27%

1

1

21%

2

2

20%

3

3

15%

4

4

9%

5

5

8%

6

6

No, only 48% of households are using one to two billing payment methods. 52% use three or more methods.

27%

1

1

21%

2

2

20%

3

3

15%

4

4

9%

5

5

8%

6

6

The average U.S. household uses

 3 

different bill payment methods each month

The average U.S. household uses

 3

different bill payment methods each month

Click on the faces to explore the top bill payment frustrations

19%

All the paper and clutter

21%

Knowing when to pay and how much

23%

Organizing all the bills and payments

29%

Possibility of late payments

35%

Keeping track of due dates

Bill due alerts and reminders 

can increase e-bill adoption and customer satisfaction by helping prevent late payments

Offering multiple bill payment options 

eases the pain 

and...

increases customer satisfaction

by

43%

by

43%

Mobile bill payers 

grew by 69%

 between 2013 and 2014 

16%

2013

27%

Why?

44%: Easy
41%: Saves Time
34%: Convenient

2014

Why?

44%: Easy
41%: Saves Time
34%: Convenient

Correct!

60% of mobile bill payers

 paid a bill at the biller’s mobile website

60% | Biller's mobile website

56% | Bank's mobile website

33% | App from bank

33% | App from biller

29% | SMS / Text

21% | Other app

Paperless e-bills delivered to bank and biller websites  

increase

 customer satisfaction

24%

of all U.S. bills are sent electronically

46%

say receiving paperless e-bills increases their customer satisfaction

say receiving paperless e-bills increases their customer satifaction

Bill pay due reminders would overwhelmingly enhance customer satisfaction

Increases

No Impact

Decreases

…and these alerts can boost e-bill adoption

71%

71%

say receiving bill due alerts increases their likelihood of adopting e-bills

The Paperless Generation:  

Which generation is the most interested in ditching paper?

Click on each generation to find out.


MILLENIALS

55%

MILLENIALS


GENERATION X

36%

GENERATION X


BABY BOOMERS

30%

BABY BOOMERS


SENIORS

8%

SENIORS

For more insights on how billing and payments influence customer satisfaction

Thank you!

We will be in touch shortly with more information.

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