Mobile Is Transforming Bill Payment Habits of All Age Groups – Bi-Annual ACI Speedpay Pulse Survey

About this update from Aci Worldwide, Inc.

[{"type":"text","content":"\nMobile bill pay brings daily lifestyle convenience for younger generations and is prompting older generations to change lifelong habits\n\n MIAMI--(BUSINESS WIRE)--\nMobile has emerged as the catalyst for continual change, with consumers across generations rapidly switching and using this channel to pay bills, according to the bi-annual (1H) 2022 ACI Speedpay Pulse consumer survey. ACI Worldwide (NASDAQ: ACIW) is the leading global provider of real-time electronic payment and banking solutions and the ACI Speedpay solution serves thousands of billers across multiple verticals in the U.S.\n\nIncreased familiarity with — and trust in — the mobile channel has prompted a sharp increase in mobile wallet usage, with 58 percent of users reporting using it to make a payment at least once a week in 1H 2022, compared to 46 percent in 1H 2021. When paying bills, 49 percent of consumers would consider using a mobile wallet, compared to 36 percent in 2021 (and 28% in 2018).\n\n“New habits and attitudes are still emerging, but the ones we see so far signal a huge opportunity for companies to double down on transforming and modernizing their billing experiences. Diversifying with new channels and the payment methods consumers want is important. However, remaining agile to more quickly respond to future changes in their preferences is equally critical. This may soon emerge as a crucial long-term competitive advantage,” said Sanjay Gupta, Head of Billers, ACI Worldwide.\n\nEvidence of consumers’ growing pursuit of greater convenience, and payment experiences that better fit their daily lives, can be seen in how and what they use mobile devices for:\n\n\n\nACI SPEEDPAY PULSE KEY FINDINGS 1H 2022\n\n\n\nKEY TAKEAWAY\n\n\n\n\n\nGrowing appreciation of the utility of mobile\n\n\n\nIncreased tendency to use mobile wallets to store non-payment items, such as digital tickets, identification, loyalty cards and billing statements. Today, 39.2% of consumers report this kind of activity compared to 25.2% in 2021.\n\n\nPreference for text bill pay reminders are gaining ground against email and paper mail. They jumped to 20.2% in 2022 from 15.1% in 2021, while email went down to 38.1% from 44% and paper/mail to 27.7% from 30.4%.\n\n\n\n\nAs consumers feel safer and more familiar with mobile channels, they increasingly value their convenience and efficiency...

More updates from Aci Worldwide, Inc.