BROOKFIELD, Wis. (3/4/16)--Consumers are increasingly using their mobile devices to make bill payments, according to new research from Fiserv.
Visits to biller websites from mobile devices grew 42% over the past year and now make up 24% of all website visits, according to Fiserv’s Fourth Annual Biller Mobile Bill Pay Benchmark Study. During these visits, bill payment is the No. 1 activity, followed by bill views and self-service.
Overall, mobile bill payment increased 22% in the past year, Fiserv said. A third of U.S. online households now pay at least one bill with their mobile phone, including a rapidly growing number of low- and medium-income consumers.
The paper said development of the mobile channel is critical for billers to meet consumers’ needs and expectations. “People want a consistent mobile bill pay experience that is easy and fast and fits seamlessly into their lives,” the paper said. “Delivering a frictionless bill pay experience across devices is key--83% of billers say the use of responsive design across a wide range of devices, from desktop computers to mobile phones, is an important or extremely important priority."
Security is also a concern, as 82% of billers cited security as a “pain point” in widespread mobile adoption. Another 71% cited the regulatory environment as a concern.