BROOKFIELD, Wis. (12/17/14)--Mobile bill payment has increased among U.S. consumers by 70% since 2013, with 27 million U.S. online households now paying at least one bill from their phone, according to the seventh annual Billing Household Survey from Fiserv Inc.
At the same time, consumers value having a number of options for bill payment, as the survey showed an average consumer uses three different payment methods each month (Finextra Dec. 15).
Roughly 65 million U.S. online households now have a smartphone, and 40% of smartphone owners pay at least one bill from their phone, according to Fiserv. Smartphone bill payers paid an average of two bills per month from their phones. Among millennials (Gen Y), 62% pay a bill using their smartphone, and Gen Y smartphone bill payers paid an average of three bills per month from their phone.
The most popular bills paid by phone include mobile (15 million), cable (14 million) and electric (8 million).
More consumers are also making payments by tablet in 2014. Some 19 million U.S. online households paid a bill using their tablet device each month, an increase from 13 million in 2013. The number of tablet owners interested in receiving and paying bills via their device increased to 23 million, up from 18 million in 2013.
Many consumers switch payment methods from month to month--and value that flexibility, according to the survey. About 43% of consumers said having multiple billing and payment options improves satisfaction with their biller, regardless of the bill type or the size of biller.
Consumers often have to make emergency payments via biller website (46%), financial institution website (46%), phone (41%) or walk-in payment (29%). Again, consumers value the ability to make last-minute emergency payments, with 57% saying they are more satisfied with the biller when emergency options are available.