This is how banks can use digital tools to stay ahead of a trillion-dollar opportunity in the bill pay market
This is how banks can use digital tools to stay ahead of a trillion-dollar opportunity in the bill pay market This is a preview of a research report from Business Insider Intelligence, Business Insider's premium research service. To learn more about Business Insider Intelligence, click here. Current subscribers can read the report here. Between housing costs, utilities, taxes, insurance, loans, and more, US adults paid an estimated $3.9 trillion in bills last year. Business Insider Intelligence That market is growing slowly, but it's changing fast — more than ever before, customers are moving away from paying bills via check or cash and toward paying online, either through their banks, the billers themselves, or using a third-party app. Thanks to rising customer familiarity with digital payments, an increase in purchasing power among younger consumers more interested in digital bill pay, and a rise in digital payment options, nearly three-quarters of bills will...
