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US Consumer Bill Payment Market Analysis: When Will We Say Goodbye to 15 Billion Checks?Product Type: Market Research ReportPublished by: TowerGroup Published: January 2000 Product Code: R301-620 Description US billing organizations will issue more than 15 billion bills to consumers in the US in the year 2000. Over 80% of these bills will come from just four industry groups-finance, insurance, telecommunications, and utilities. Consumers will make a total of 19 billion payments in support of these bills as well as other household goods and services. The check remains the predominant form of bill payment, with an estimated 80% of bill payments paid via this medium in the year 2000. Check volume for bill payments will continue to rise slowly (though its share of total bill payment will fall) until the middle of this decade, before beginning to decline. By 2010, TowerGroup estimates that 6 billion bills and 12.3 billion payments will be executed electronically. These totals will represent approximately 30% and 45%, respectively, of total US consumer bills and payments.
This TowerGroup Research Note outlines the size and concentration of the US consumer billing and payment market in volume terms and forecasts the growth of bills and payments over the next 10 years. It also sizes the market in terms of revenues and costs for the major constituents in the billing/payment process, namely billers, banks, technology providers, and consumers. Table of Contents HighlightsIntroduction Bill Market Sizing Bill Payment Market Sizing Bill and Payment Forecasts Billing/Payment Processing Costs Conclusion |
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