49% of Consumers Use Digital Bill Pay Services

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The great digital shift is transforming the way we interact with all manner of companies — including the banks and billers with which consumers interact to get their obligations paid.

PYMNTS research finds that 66% of consumers pay at least some of their bills directly to the biller or the services provider – that tops the 40% of consumers who use digital bill payment services from their banks to pay some of their bills, and the roughly 10% who use personal finance apps to make payments.



In the report “The Flexibility Factor: Mapping Consumer Demand for Bill Payment Innovation,” a PYMNTS and BillGO collaboration, 2,261 adult consumers said they wanted convenient payment options that offer more control over how they track and pay their upcoming bills. About 69% of consumers want bill scheduling features. Consumers value the ability to pay their bills by the due dates, and to get real-time payment confirmation and other features.

See also: The Flexibility Factor: Mapping Consumer Demand for Bill Payment Innovation

But a significant percentage of consumers are still hesitant to embrace online bill payment. Of those consumers “opting out,” for lack of a better term, 63% said there was “no reason to change,” as the change would not be “worth” the time.  Roughly 8% noted that their banks do not have the tools.

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NEW PYMNTS DATA: DIGITAL BANKING STUDY – THE BREWING BATTLE FOR WHERE WE WILL BANK

About: Forty-seven percent of U.S. consumers are shying away from digital-only banks due to data security worries, despite significant interest in these services. In Digital Banking: The Brewing Battle For Where We Will Bank, PYMNTS surveyed over 2,200 consumers to reveal how digital-only banks can shore up privacy and security while offering convenient services to satisfy this unmet demand.

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