Market Scenario 

Electronic bill presentment and payment market was valued at US$ 13.74 billion in 2023 and is projected to reach valuation of US$ 31.61 billion by 2032 at a CAGR of 9.7% during the forecast period, 2024-2032.

There is an emerging growth in the Electronic bill presentment and payment (EBPP) market due to the increased need for convenience, time efficiency as well as eco-friendliness in the processes. The increasing use of smartphones and internet has changed how consumers handle their bills. Internet penetration continues to soar and as of 2023 there are a total of 5.3 billion users with an estimated 4.9 billion who use mobile devices. The growth in internet devices means that clients can now send, receive, view, and pay for their bills electronically from any location and with more satisfaction.

The factors are the same with the growth of other industries as well, such as the development of technologies, the increase of security level and the transition to the digital economy. More recently, technological advances in encryption and authentication have improved consumer perceptions toward electronic transactions, giving a boost to the Electronic bill presentment and payment (EBPP) market. In 2023, reports show, financial institutions witnessed an increase of nearly 40% in adoption of biometric measures including fingerprint and facial recognition to log into EBPP platforms. It is worth mentioning that the COVID 19 pandemics facilitated the digital transformation where businesses adopted contactless transactions to enable customers avoid physical interactions.

EBPP is used in several operative realms such as utility services, telecom services, medical services, finance and others. Utility firms say that more than 60% of their client base uses electronic invoices instead of the usual paper invoices. In this case, the major utility provider in the United States managed to viciously reduce the number of bills sent on paper by more than 10 million sheets a year. The market is moving towards having all the platforms with EBPP integrated, like PayPal, Apple and others allowing clients to manage and pay bills from their wallets.

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Market Dynamics 

Driver: Rising Consumer Demand for Convenient, Real-Time Solutions

There is increasing interest in electronic bill presentment and payment (EBPP) market with great expectations and forecasts on their development growth due to the increasing consumer market trends toward instant bill payment services anytime. Such audience is largely active during social media interactions, making it reasonable to engage with them using various marketing tools. According to the latest 2023 survey, more than 76% of consumers use mobile devices for managing financial obligations, leading them to prioritize the effectiveness of painless payment methods over low cost. With more than 6.8 billion smartphone subscriptions, people do not leave their home-with-a smartphone to control their finance. Bill payment & scheduling options were among the most useful features in 25% of mobile banking apps, as the volume of their usage increased substantially over time.

Automatic payment options, instant and push notifications as well as billing history features increases user engagement and satisfaction in the in electronic bill presentment and payment (EBPP) market. For instance, bank customers who sing in to electronic bills are 35% more likely to use other services, so such a dual usage of services is preferred. For the above reasons, customers demand easy to use and require companies to create EBPP platforms that would be better suited for customers seeking convenience features.

Trend: Integration of EBPP Services with Mobile Platforms

A major pattern which has been witnessed in the in electronic bill presentment and payment (EBPP) market is the collaboration of the services with mobile banking and digital wallet apps. Customers are increasingly leaning towards using platforms that combine several financial functions into one app. In this regard up to 1.5 billion users used Apple Pay, Google Pay, and Samsung Pay for bill payments, which were further incorporated in the digital wallets in their range by 2023. This fusion makes transactions more efficient since payment of bills is now done in a few clicks and also makes available extras such as budgeting and expense tracking applications.

Financial institutions are also engaging in these partnerships with fintech companies for instance to boost their services on mobile devices. As a result, this application for financial institutions was downloaded up to 10 million within six months of the partnership between the bank and the fintech company. The app provided new features such as inquiring about a bill payment using voice commands and spending information tips using AI. Mobile integration is clearly a trend in the EBPP market as it makes things simpler and is designed towards enhancing the experience of each user.

Challenge: Cybersecurity Threats to Consumer Data

Cybersecurity continues to pose significant difficulties in the in electronic bill presentment and payment (EBPP) market because increasing cyber risks endanger sensitive information, and even transaction integrity. In 2023, total cybercrime damages globally were expected to reach $10.5 trillion, with the financial sector being the highest target. The public fear that using e-commerce for making monetary transactions is unsafe was also escalated by notable payment data breaches such as the one of a major payment processor that impacted 30 million users.

As a result, companies in the in electronic bill presentment and payment (EBPP) market have decided to make a large volume of investment to improve security. After all the spending on Cybersecurity averted in covid-19 pandemic, the worldwide Cybersecurity industry has received substantial funding of approximately $ 200 billion in 2023 on especially Artificial Intelligence for threat assessment and Blockchain technology for secure transaction networks. A 50% increase in cybersecurity-related expenditures was reported by banks focusing on encryption, multi-factor authentication, and real-time fraud protection. However, distrust of consumers would still be a problem; it would also require more effort as well as new ideas due to the challenge posed by cyber criminals.

Segmental Analysis 

By Type 

Based on type, the biller-direct model segment is capturing 62.8% market share and maintained its dominance in the electronic bill presentment and payment (EBPP) market that enables companies to connect directly with their clients. Utilities and telecommunication providers are the primary users of this model as more than 1,000 major companies globally have used this to enhance customer relations. It is efficient due to the fact that it has developed with the advancement of digital payment systems and thereby billions of transactions are processed each year through these platforms. This model fulfils both the American and Japanese billing markets, as demonstrated by over 500 million users using biller-direct systems worldwide every month. The use of e-billing solutions has helped eliminate about 15 million tons of paper waste every year as part of the aim for sustainability.

The evolvement of technologies in the in electronic bill presentment and payment (EBPP) market has made stronger the market standing of the direct model of billers. For instance, as many as 90% of the biller direct platforms now enable the customers to track and receive notifications regarding payments made in real time. The automated payments option has been set up by over 300 million users globally emphasizing the convenience factor of this feature. The application of electronic billing systems has lowered fraudulent transactions by 50 percent as compared to the old billing systems. Additionally, customer satisfaction regarding bill layout customization has improved as much 25% owing to the ability to customize the bill presentation. From a non-economic perspective, businesses are reducing their dependence on printed material and therefore expenditure on printing and posting items has gone down by US$500 million annually.

By Bill Type 

Phone bills continue to dominate the electronic bill presentment and payment (EBPP) market in 2023 with over 39.1% market share due to the essential nature of communication services. There are more than 7 billion mobile connections globally, which means there is a need for a more sophisticated billing process. The same trend is observed in the energy industry, where there are more than 1.2 billion smart meters installed globally, which allows for efficient billing and data collection. In the medical industry, electronic billing usage has also expanded, where more than 200,000 healthcare providers have incorporated EBPP tools in order to receive payments for patients’ accounts. This has yielded a reduction in administrative costs on the side of providers by twenty percent and decreased the period of payments being made to the providers.

Electricity and utility bills, however, are crucial to the growth of in electronic bill presentment and payment (EBPP) market since more than 1,500 utility companies have adopted electronic billing. These systems made it possible to integrate renewable energy credits and assist in the changeover to sustainable energy. The healthcare market takes advantage of EBPP by simplifying the processing of insurance claims for patients aroused from over 100 million patients in a year. The demand for complex bills to be processed for telemedicine services is now a norm, with electronic systems completing more than 500 million telehealth billing transactions in a year, this trend shows no sign of slowing down. This integration has enhanced operational workflow and patient contentment making EBPP a critical part of billing processes in today's healthcare.

By Industry 

The Fast-Moving Consumer Goods (FMCG) and Food & Beverage (F&B) sectors play an important role in the electronic bill presentment and payment (EBPP) market accounting for more than 17% of the market share by handling billions of transactions every year. The introduction of e-billing has proven a blessing to retailers as more than 10,000 companies have adopted EBPP systems. The hospitality industry benefits too, with over 500,000 restaurant and cafés installing a combination of digital menu and payment systems to improve the customer experience. The upsurge of e-buying has also pushed for the increase in the use of EBPP, whereby e-commerce platforms generate sales amounting to trillions of dollars each year.

The sector covering Hospitality, Restaurants and Cafés (HoReCa) and Quick Service Restaurants (QSRs) have witnessed an explosive combination growth spurt, which has resulted in millions of transaction executions every day through digital payment methods. The moving of loyalty programs into payment applications has resulted in these transactions very nearly becoming a promotional tool, with over 1 billion such engagements every year, increasing retention of customers. It has become apparent that to expand in a digital economy, strong EBPP is required, which amongst other things supports cross-border payments for more than 100 million individuals. As digital markets continue to develop, there will be more demand for effective billing and payments which will ensure the growth and competitiveness of the company in the world markets.

By Payment Channel 

The electronic bill presentment and payment (EBPP) market in 2023 has drastically been influenced by mobile applications and digital wallets. The segment captured more than 49.8% market share With more than 5 billion smartphone users, mobile payment applications have become the norm in bill payments. Apple Pay and Google Pay make billions of transactions every year which is made possible by contactless payments. More than 2 billion online banking users are actively using internet finances, making the online banking platforms very popular. There has been increased reports of over 10 billion in debts and bills paid each to each through the institution of the banks reinforcing its position as a popular channel. Voice activated payments and other wearable technology speak of payments of the future , the industry is continually growing.

More than 300 million transactions are done each and every month using voice, this depicts the interest of customer in using hands free payments. The sale of wearable devices with payment capability has exceeded more than 150 million units sold, indicating popularity growth. All these advances point to the fact that payment channels in the in electronic bill presentment and payment (EBPP) market keep being dynamic as advances that meet the ever changing needs of consumers and make the transactions simpler and more secure are developed.

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Regional Analysis 

North America is the largest electronic bill presentment and payment (EBPP) market, which holds over 41.4% of the global revneue. This is attribted to huge internet users in the region. for instance, almost 90% of its population can access the internet, which brings a greater number of consumers to digital billing solutions. Besides, due to the technology advancement, over 80% of smartphone users across the US and Canada are able to access the electronic payment platforms. In addition, the significance of North American EBPP companies serves to increase market expansion and creativity. Along with that, almost 85% of the consumers like to pay bills electronically thanks to its instant payment settlement offering and already over 75% of households use this payment type. Apart from this, supportive policies coupled with improved security measures in the region have increased the consumer confidence in payment systems, which lowered incidences of payment fraud by up to 65% in recent periods.

Asia Pacific has carved itself a place after North America in the in electronic bill presentment and payment (EBPP) market. The outbreak of this region has mainly been due to its increasing sized populations and rapid embracement of technology. For instance, in China, the mobile payment transactions volume accounted for over 185 billion transactions worth more than ¥ 555 trillion. In India, the volume of payments transactions reached about 45 billion with 30% growth per annum. The region has young population statistics with 60% of the total population being below 35 years and younger people are better purchasers of electronic solutions. Also, the Indian government programs that emphasize on less or no cash transactions like the aim of Japan to increase cashless transactions to 40% by 2025, aggravate market growth further. In Southeast Asia, the evolution of super-apps who has manage to get more than a hundred million users are able to incorporate EBPP services which helps in increasing the user base.

These two regions retain their dominant positions with the development of new technologies and improving their infrastructures. In North America in electronic bill presentment and payment (EBPP) market, the investment in fintech has been at over $105 billion over the last few years, which has contributed to the enhancement of electronic bill presentment and payment services. Cloud service adoption increased by 25%, and this led to enhanced scalability and accessibility for users as well as businesses. A 40% increase in fintech startups was noted in the Asia Pacific region recruiting over 2500 companies many of which specialized in EBPP technologies. On top of that, Southeast Asia witnessed a 35% increase in cross-border e-commerce sales which in turn increased the demand for effective EBPP systems. As for the regions, both also placed emphasis on cybersecurity with North America and Asia Pacific spending more than $50 billion and $30 billion respectively on cybersecurity strengthening the security of transactions and encouraging people to use EBPP programs.

List of Companies Profiled

• ACI Worldwide Inc.,
• Bottomline Technologies, Inc.
• Communications Data Group, Inc.
• CSG Systems International, Inc.
• CyberSource Corporation
• ebpSource Limited (UK)
• Enterprise jBilling Software Ltd.
• FIS
• Jack Henry & Associates, Inc.
• Jopari Solutions, Inc.
• SIX Payment Services Ltd.
• Sorriso Technologies, Inc.
• Striata
• PayPal, Inc.
• Fiserv, Inc.
• MasterCard
• Pagero AB

Market Segmentation Overview:

By EBPP Type

• Biller-Direct EBPP
• Consolidated EBPP

By Bill Type

• Phone Bills
• Electric Bill Payment
• Gas Bill Payment
• Other Expenses (DTH, Entertainment, etc.)

By Payment Channel

• Mobile apps and wallets
• Websites
• Interactive Voice Response (IVR)
• Kiosk
• Others

By Industry

• FMCG & F&B
• BFSI
• IT & Telecom
• Retail
• HoReCa & QSRs
• Healthcare
• Apparel and Footwear
• Media & Entertainment
• Manufacturing
• Education
• Others

By Region

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • Western Europe
    • UK
    • Germany
    • France
    • Italy
    • Spain
    • Rest of Western Europe
  • Eastern Europe
    • Poland
    • Russia
    • Rest of Eastern Europe
• Asia Pacific
  • China
  • India
  • Japan
  • Australia & New Zealand
  • South Korea
  • ASEAN
  • Rest of Asia Pacific
• Middle East & Africa (MEA)
  • Saudi Arabia
  • South Africa
  • UAE
  • Rest of MEA
• South America
  • Argentina
  • Brazil
  • Rest of South America