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Global Electronic Bill Presentment and Payment (EBPP) Market to Reach 35 Billion Bills by 2026SAN FRANCISCO, March 3, 2022 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Electronic Bill Presentment and Payment (EBPP) - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
FACTS AT A GLANCE What's New for 2022?
Edition: 19; Released: February 2022 Complimentary Project Preview - This is an ongoing global program. Preview our research program before you make a purchase decision. We are offering a complimentary access to qualified executives driving strategy, business development, sales & marketing, and product management roles at featured companies. Previews provide deep insider access to business trends; competitive brands; domain expert profiles; and market data templates and much more. You may also build your own bespoke report using our MarketGlass™ Platform which offers thousands of data bytes without an obligation to purchase our report. Preview Registry ABSTRACT- Global Electronic Bill Presentment and Payment (EBPP) Market to Reach 35 Billion Bills by 2026 The technology has the ability to cut down cost and saves time for payments processing, eliminating the need to use paper mails and enhance marketing capabilities in an intensely competitive marketplace. Further, cost of customer service is also reduced as instances of errors are relatively low in electronic transactions when compared to paper-based transactions. The technology can also ensure settlement of disputes through the presentation of interactive bills and by reducing telephonic conversations. Amid the COVID-19 crisis, the global market for Electronic Bill Presentment and Payment (EBPP) estimated at 23.8 Billion Bills in the year 2022, is projected to reach a revised size of 35 Billion Bills by 2026, growing at a CAGR of 9.8% over the analysis period. A key factor driving growth in the EBPP market is the convenience offered by the technology. Driven by the high level of convenience it offers to consumers, while enabling business establishments to cut down on bill dispatch, EBPP services are increasingly favored by customers as well as businesses alike. Mobility is the new buzzword among technology savvy smartphone oriented young adults. Growing emphasis on any-time convenience, transparency in transactions, simplicity in use, safe and secure time-saving options are fueling adoption of e-billing. EBPP enables customers to exercise better control over the billing process and ensures faster and secured payment of bills. E-billing is widely being appreciated by consumers, as the technology contributes significantly in protecting the environment by allowing consumers to shift towards paperless bills. The U.S. Market is Estimated at 6.8 Billion in 2022, While China is Forecast to Reach 6.5 Billion by 2026 Electronic bill payment today, more than ever, is viewed by the consumers as a cost-effective and efficient way of managing their cash flow and ensuring timely payments of their bills. The market will continue to benefit from the shift towards newer payment modes such as mobile based payments. Forward-thinking organizations with a focus on establishing trusted, eco-friendly customer relationships, and those leveraging the power of Internet will continue to score high gains over other organizations. Through EBPP, service providers are able to provide a convenient platform for customers to view and remit bills online. Time starved customers are finding EBPP more convenient and easy to use to pay bills, while gaining access to the same account as supplier contact center. EBPP systems will witness increased adoption supported by benefits offered by the technology in comparison to competing technologies. Driven by factors such as developments in technology, lesser cost of e-payments and the benefits offered to the consumers as well as organizations, EBPP is all set to become a vital factor for the success of any modern organization. Factors such as increased control, assured security, privacy and convenience have and will continue to drive growth of e-billing and payment systems. EBPP will continue to appeal to financial services and insurance companies (including credit card issuers, retailer banks, and investment banks), and telecommunications industries that typically generate hundreds to millions of bills per month. Other major businesses expected to step up adoption of EBPP include energy and utilities, government, education, transportation, retailers, and health care organizations. Even in the pre-pandemic period, EBPP was rapidly emerging as a lucrative alternative for mobile operators specifically for those in quest for novel solutions to minimize operational costs. More MarketGlass™ Platform Our platform is free for qualified executives and is accessible from our website www.StrategyR.com or via our just released mobile application on iOS or Android About Global Industry Analysts, Inc. & StrategyR™ CONTACTS: LINKS Connect With Us on LinkedIn Follow Us on Twitter Journalists & Media
SOURCE Global Industry Analysts, Inc. 
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