What is the global market size of Electronic Bill Presentment and Payment Market?

Global Electronic Bill Presentment and Payment Market size was valued at USD 22.99 billion in 2021 and is poised to grow from USD 25.37 billion in 2022 to USD 55.59 billion by 2030, growing at a CAGR of 10.3% in the forecast period (2023-2030).

Electronic Bill Presentment and Payment Market Size, Share, Growth Analysis, By Product(Biller-direct EBPP, and consolidated EBPP ), By Biller type(Phone bills, electricity bills, gas payment bills, and others ), By Channel(Mobile, websites, IVR, and others), By Region - Industry Forecast 2024-2031

Report ID: SQMIG45F2064 | Region: Global | Published Date: February, 2024
Pages: 242 | Tables: 91 | Figures: 76

Electronic Bill Presentment and Payment Market Insights

Electronic Bill Presentment and Payment Market size was valued at USD 22.99 billion in 2019 and is poised to grow from USD 25.37 billion in 2023 to USD 55.59 billion by 2031, growing at a CAGR of 10.3% in the forecast period (2024-2031).

Electronic bill presentment and payment (EBPP) is a process for allowing bills to be created, delivered and paid via online. It is the term for when a company sends or presents certain bills to customers electronically; and then customers pay those bills automatedly by using the internet. It is also called e-billing, e-invoicing, and others.

The industries which primarily use electronic bill presentment and payment are telecommunications, financial services, and utility companies. The two common models for electronic bill presentment are the direct model, and consolidator or bank aggregator model of electronic bill presentment. The increasing awareness of using e-bill payment systems and rising significance on transaction transparency, convenience, & time-saving choices are some factors positively affecting the growth of the electronic bill presentment and payment market.

US Electronic Bill Presentment and Payment Market is poised to grow at a sustainable CAGR for the next forecast year.

Electronic Bill Presentment and Payment Market Report Snapshots

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FAQs

Global electronic bill presentment and payment market is highly competitive and somewhat fragmented. To maintain a competitive edge, the major industry participants are continually implementing various growth strategies. Innovations, mergers, and acquisitions, collaborations and partnerships are adopted by these players to thrive in the competitive market. In order to provide industries with the most effective and economical solutions, the major market players are also continually concentrating on R&D. 'ACI Worldwide, Inc.', 'Adyen NV', 'AliPay', 'Bottomline Technologies, Inc.', 'CyberSource Corporation', 'Fidelity National Information Services, Inc.', 'Fiserv, Inc.', 'Global Payments, Inc.', 'Ingenico Group SA', 'Intuit, Inc.', 'JPMorgan Chase & Co.', 'Mastercard Incorporated', 'NCR Corporation', 'PayPal Holdings, Inc.', 'Square, Inc.', 'Stripe, Inc.', 'Tencent Holdings Limited', 'Visa Inc.', 'Worldline SA', 'ZOHO Corporation'

The increasing adoption of electronic bill payment solutions by many organizations to smoothly help the customers in managing their expenditures and optimize the management of the human resources for minimizing the operational costs & good profitability is, however, assumed to augment the growth of the EBPP market during the forecast period.

Most of the businesses shifted from traditional paper billing and payments systems to mobile bill presentment and payment is starting to acquire a prime choice in the global electronic bill presentment and payment market. These systems permit businesses to send bills and payments with a great medium of text or email, that is very convenient for customers.

North America dominated the global electronic bill presentment and payment (EBPP) market in 2021 due to the highly developed EPBB Market in terms of total submissions and payment tools, retailers, and bidders. The most developed market is in the United States for EBPP, the sellers and end-users have widely adopted these solutions and mobile payment is considered as a preferred mode of payment.

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Electronic Bill Presentment and Payment Market Size, Share, Growth Analysis, By Product(Biller-direct EBPP, and consolidated EBPP ), By Biller type(Phone bills, electricity bills, gas payment bills, and others ), By Channel(Mobile, websites, IVR, and others), By Region - Industry Forecast 2024-2031

Electronic Bill Presentment and Payment Market Insights

Electronic Bill Presentment and Payment Market Report Snapshots

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