Boston, MA, October 16, 2006
– In a new report, Online Bill Payments: Chasing the Next Big Thing, Aite Group looks at processors' efforts to tap into new revenue opportunities beyond the core bill payment processing service.
The report provides an overview of the payment, channel and revenue trends in consumer bill payment processing and discusses the state of the competitive landscape in the consolidator segment. In addition, the
report highlights some of the largest growth opportunities for online bill payment processors that are beyond their core consumer bill payment service, including walk-in bill payment, expedited bill payment,
small-business bill payment, and bill presentment.
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The report recommends that banks should seize new opportunities for themselves as their processing partners become larger and more diversified companies. "As processors
broaden their capabilities and relationships, banks should explore ways to leverage those in order to nurture new opportunities for themselves, such as with the development of products targeting the unbanked,"
said Gwenn Bézard, a Research Director with Aite Group and the author of the report. The report also argues that instead
of shunning them, banks should embrace alternative channels such as e-mail and mobile phones. "Instead of letting billers lead the charge, banks should consider integrating those services into their consolidator
model," suggests Bézard.
The vendors mentioned in the report include: AOL, CheckFree/PhoneCharge/APS, ChoicePay, Citibank, Digital Insight, Experian/LowerMyBills.com, Fidelity Information Services/Certegy, Fiserv/BillMatrix/Paytraxx,
Fort Knox National, GE Money/CashWorks, iPay Technologies, JPMorgan Chase/PayConnection, MasterCard RPPS, Metavante, NACHA, NCO, Online Resources/Princeton eCom, Striata, Transactis, Visa ePay, Wachovia, Wells Fargo,
Western Union/Speedpay, Yahoo!, and Yodlee.
This 32-page Impact Report contains 25 figures. Clients of Aite Group's Retail Banking Service can download the report by clicking on the icon
to the right
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