Bill Payment Innovations

Industry insights | Latest news and articles

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The world of bill payments is changing

Companies want to leverage digital payment innovations to get paid faster, lower associated costs, expand their customer base and serve underbanked customers.

That’s where Request to Pay comes in.

Request to Pay is a messaging ecosystem that provides the necessary secure communications required to make secure payment requests possible.

bill payments via mobile phone animation

Latest articles

  •  Alternative payment methods are expected to reach 20% of the market share in Europe by 2020. They include mobile payments, prepaid cards, eWallets and ‘buy now pay later’ instant financing. Linnworks
  •  Young people (aged 18 to 34) and those making less than $50,000 were the most likely to miss or partially pay one or more bills. McKinsey
  •  32% of consumers skipped or partially paid their credit card, with 7% skipping entirely. McKinsey
  • There were 3.5 billion payments made using credit cards, an increase of 7% over the previous year. UKfinance
  • In 2019, 50% of all adults used mobile banking. UKfinance
woman paying bills from her mobile phone via rtp

Analysis

image of woman paying with request to pay

Bill payments are changing

Read our guide to RfP solutions

In a fast-changing payments industry, PSPs want to maximize their share of wallet, offer competitive transaction servicing rates (while maintaining high returns), and win more customers by offering services that billers need to serve today’s ever-changing business and consumer worlds.  Above all, they don’t want to be left behind.

Learn more…

picture of someone using request to pay on mobile

Your request to pay options

Which Request for Payment solution?

In this article, we examine the rise of the secure request for payment messaging solutions and the options open to banks and Payment Service Providers to use it for themselves.

Learn more…

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Contact us to discuss your needs with a consultant and discover your ideal bill payment solution