Electronic Bill Presentment and Payment (EBPP) Market Size [2032]
Electronic Bill Presentment and Payment (EBPP) Market Size [2032]
Segments - Electronic Bill Presentment and Payment (EBPP) Market by Product (Electronic Bill Payment, Electronic Bill Presentment, and Electronic Bill Posting), Application (Billers, Consumers, Bill Consolidators, and Others), Channel (Mobile, Web, E-mail, IVR, POS, and Kiosk), End-user (BFSI, Healthcare, Insurance, IT, Media & Entertainment, Manufacturing, and Others), and Region (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2024–2032
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Report Description
Electronic Bill Presentment and Payment Market
The global electronic bill presentment and payment market size was USD 26.3 Billion in 2023 and is projected to reach USD 62 Billion by 2032, expanding at a CAGR of 10.4% during 2024–2032. The market growth is attributed to the increasing adoption of digital wallets across the globe.
Electronic bill presentment and payment (EBPP) is a process used to collect payments through the internet or other electronic modes. Industries that predominantly utilize EBPP services include telecommunications, finance, and utility companies. Two prevalent models for electronic bill presentment include the direct model and the consolidator or bank aggregator model. Factors such as heightened awareness of e-bill payment systems and a growing emphasis on transaction transparency, convenience, and time-saving options contribute to the market growth.
Rising adoption of mobile devices is boosting the EBPP market. Consumers are increasingly relying on mobile platforms to pay their bills conveniently, with the proliferation of smartphones and tablets. This encourages EBPP service providers to prioritize mobile-friendly solutions and develop user-friendly mobile applications. Security and regulatory compliance have become top priorities for EBPP service providers, with the increasing volume of digital transactions. Robust security measures, such as encryption, tokenization, and multi-factor authentication, are being implemented to protect sensitive customer information and prevent fraudulent activities. Additionally, EBPP service providers are ensuring compliance with industry regulations and standards to maintain trust and credibility among consumers.
Impact of AI on the Electronic Bill Presentment and Payment Market
Artificial intelligence analyzes transaction data in real time to detect suspicious patterns and identify potential instances of fraud. AI helps to enhance the security of electronic bill payment systems by continuously monitoring for anomalies and fraudulent activities, safeguarding sensitive customer information, and reducing financial losses for both businesses and consumers.
AI-powered automation streamlines various aspects of the EBPP workflow, from bill generation and delivery to payment processing and reconciliation. AI reduces manual errors, accelerates processing times, and reduces operational costs for businesses by automating routine tasks and workflows, resulting in exceptional efficiency and scalability.
Electronic Bill Presentment and Payment Market Dynamics
Major Drivers
Growing adoption of electronic bill payment solutions among numerous organizations is expected to drive the EBPP market during the forecast period. EBPP solutions allow businesses and customers to manage their expenses through internet, which minimizes operational costs and enhances profitability. Moreover, the increasing penetration of smartphones and widespread access to high-speed internet significantly drive the market. Mobile internet access has enabled customers to conveniently access various payment platforms and pay their bills securely. The rising demand for secure payment options is further propelling the market.
Existing Restraints
Shielding consumer information from cyber threats and ensuring secure payment channels are major concerns in the BFSI industry, which hinders the market. Moreover, limited access to digital infrastructure in certain regions limited the adoption of EBPP services. Insufficient internet connectivity in underdeveloped areas creates obstacles for businesses and customers, thereby limiting the adoption of digital billing and payment solutions.
Emerging Opportunities
Rising penetration of the internet and the emergence of electronic bill presentment and payment providers led to an excess of options and solutions. Various payment mechanisms such as Internet banking, UPI, and mobile wallets witness a significant volume of transactions on their servers. Thus, market players are rolling out electronic payment platforms integrated with encryption and other technologies to offer secure payment services. Furthermore, the growing adoption of digital wallet payments fuels the market. These platforms offer consumers a convenient and secure way to store payment information and make transactions online.
Scope of the Electronic Bill Presentment and Payment Market Report
The market report includes an assessment of the market trends, segments, and regional markets. Overview and dynamics are included in the report.
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Attributes |
Details |
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Report Title |
Electronic Bill Presentment and Payment Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
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Base Year |
2023 |
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Historic Data |
2017 -2022 |
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Forecast Period |
2024–2032 |
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Segmentation |
Product (Electronic Bill Payment, Electronic Bill Presentment, and Electronic Bill Posting), Application (Billers, Consumers, Bill Consolidators, and Others), Channel (Mobile, Web, E-mail, IVR, POS, and Kiosk), and End-user (BFSI, Healthcare, Insurance, IT, Media & Entertainment, Manufacturing, and Others) |
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Regional Scope |
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa |
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Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, Market Trends, and Revenue Forecast |
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Key Players Covered in the Report |
Alacriti; Aliaswire; Adyen NV; ACI Worldwide; ClickPay; Fiserv, Inc; JP Morgan Chase & Co.; Jopari Solutions, Inc; Jack Henry & Associates; Kubra; Mastercard Incorporated; NCR Corporation; Payfirma; Paymentus; Symcor; Transactis; Tencent Holdings Limited; and ZOHO Corporation |
Regional Outlook
In terms of region, the electronic bill presentment and payment market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa.
North America dominated the market in 2023, owing to the high adoption of electronic bill presentment and payment (EBPP) among vendors and billers. Individuals in the region increasingly prefer mobile payment methods. Furthermore, government regulations on the adoption of electronic bill presentment and payment, particularly on highways across various cities, impacted the market. People in the region are seeking efficient platforms for seamless payment options, thereby boosting the market.
The market in Asia Pacific is anticipated to expand at a significant pace in the coming years. The growing internet usage and the widespread adoption of smartphones encouraged people to use digital payments. Moreover, the widespread availability of 4G, 5G, and other technological enhancements in internet services are enabling businesses to seamlessly manage online bill payments, thereby contributing to the growth of the market.
Electronic Bill Presentment and Payment Market Segment Analysis
Product Analysis
Based on product, the market is fragmented into electronic bill payment, electronic bill presentment, and electronic bill posting.
The electronic bill posting segment held a large market share in 2023. It electronically presents bills, invoices, or statements to customers or recipients through digital channels, such as email, online portals, or mobile applications. This method allows businesses or service providers to deliver bills and invoices to their customers electronically, thereby eliminating the need for paper-based documents and enabling efficient billing processes.
The electronic bill payment segment is expected to grow at a rapid pace during the forecast period, due to its cost-effectiveness and simple method for managing cash flow and ensuring timely bill settlements. This approach offers several advantages, including safety, security, ease of use, and the capability to provide timely reminders for due dates. Furthermore, electronic bills are increasingly replacing paper bills. Alternative payment methods such as automated teller machines (ATMs), mobile phones, and online portals have gained popularity for bill payments, primarily due to their lower risk of fraud compared to check payments.
Application Analysis
On the basis of application, the EBPP market is segregated into billers, consumers, bill consolidators, and others.
The bill consolidators segment dominated the market in terms of revenue generation in 2023. Customers streamline bill payments across multiple companies through a bill consolidator system, offering a unified platform for managing various payments. This one-stop solution provides users with the flexibility to receive payments from different clients and allocate them to respective companies efficiently. For instance, a bank may offer internet users the convenience of paying credit card bills, utility expenses, and insurance premiums. Additionally, independent websites enable customers to view and settle all their bills in one place.
The billers segment is anticipated to expand at a significant pace during the forecast period. Billers, such as utility companies, telecommunication providers, and government organizations, leverage EBPP solutions to streamline billing and payment processes. This, in turn, reduces costs and improves customer satisfaction.
Channel Analysis
Based on channel, the global market is divided into mobile, web, e-mail, IVR, POS, and kiosk.
The mobile segment held a large market share in 2023 and is projected to register a considerable CAGR during the assessment years. This segment growth is attributed to the convenience offered by user-friendly apps and mobile wallets, which enable quick and hassle-free payments. This further reduces reliance on physical debit and credit cards.
The web segment is anticipated to expand at a significant growth rate during the projection period, as web portals allow users to easily access and manage their bills and payments online. They provide convenience, accessibility, and an easy-to-use interface, making them a popular choice among many individuals and enterprises.
End-user Analysis
Based on end-user, the market is segmented into BFSI, healthcare, insurance, IT, media & entertainment, manufacturing, and others.
The BFSI segment held a major share of the market in 2023, as the finance industry is considered an early adopter of EBPP. Furthermore, the rising development of various online payment apps bolstered the segment. EBPP offers benefits such as reduced costs, enhanced security, and improved customer experience, making it an ideal solution for the BFSI industry.
The healthcare segment is projected to hold a significant share of the market by 2032, due to the increasing adoption of EBPP solutions in healthcare facilities for streamlined billing and payment processes. EBPP enables healthcare facilities to offer patients convenient, secure, and efficient payment options, thereby improving patient satisfaction.
Segments
The electronic bill presentment and payment market has been segmented on the basis of
Product
- Electronic Bill Payment
- Electronic Bill Presentment
- Electronic Bill Posting
Application
- Billers
- Consumers
- Bill Consolidators
- Others
Channel
- Mobile
- Web
- IVR
- POS
- Kiosk
End-user
- BFSI
- Healthcare
- Insurance
- IT
- Media & Entertainment
- Manufacturing
- Others
Region
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
- Alacriti
- Aliaswire
- Adyen NV
- ACI Worldwide
- ClickPay
- Fiserv, Inc
- JP Morgan Chase & Co.
- Jopari Solutions, Inc
- Jack Henry & Associates
- Kubra
- Mastercard Incorporated
- NCR Corporation
- Payfirma
- Paymentus
- Symcor
- Transactis
- Tencent Holdings Limited
- ZOHO Corporation
Competitive Landscape
Key players competing in the global electronic bill presentment and payment market include Alacriti; Aliaswire; Adyen NV; ACI Worldwide; ClickPay; Fiserv, Inc; JP Morgan Chase & Co.; Jopari Solutions, Inc; Jack Henry & Associates; Kubra; Mastercard Incorporated; NCR Corporation; Payfirma; Paymentus; Symcor; Transactis; Tencent Holdings Limited; and ZOHO Corporation.
These players utilize several development strategies, including product launches, partnerships, acquisitions, and geographical expansion, to increase their global presence. For instance,
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In February 2022, Aliaswire, a technology startup specializing in merchant services, partnered with Mastercard to integrate its Direct Biller Payment Platform with Mastercard Bill Pay Exchange.
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In August 2021, InvoiceCloud, a US-based provider of electronic bill presentment and payment (EBPP) solutions, forged a strategic alliance with ESC partners, a management consulting firm serving electric, water, and gas utilities. The partnership aims to offer online payment solutions for municipal tax collection and utility services.
Table Of Content
1. Executive Summary2. Assumptions and Acronyms Used
3. Research Methodology
4. Electronic Bill Presentment and Payment (EBPP) Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Electronic Bill Presentment and Payment (EBPP) Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Electronic Bill Presentment and Payment (EBPP) Market - Supply Chain
4.5. Global Electronic Bill Presentment and Payment (EBPP) Market Forecast
4.5.1. Electronic Bill Presentment and Payment (EBPP) Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Electronic Bill Presentment and Payment (EBPP) Market Size (000’ Units) and Y-o-Y Growth
4.5.3. Electronic Bill Presentment and Payment (EBPP) Market Absolute $ Opportunity
5. Global Electronic Bill Presentment and Payment (EBPP) Market Analysis and Forecast by Applications
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Applications
5.2.2. Y-o-Y Growth Projections by Applications
5.3. Electronic Bill Presentment and Payment (EBPP) Market Size and Volume Forecast by Applications
5.3.1. Billers
5.3.2. Consumers
5.3.3. Bill Consolidators
5.3.4. Others
5.4. Absolute $ Opportunity Assessment by Applications
5.5. Market Attractiveness/Growth Potential Analysis by Applications
6. Global Electronic Bill Presentment and Payment (EBPP) Market Analysis and Forecast by End Users
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by End Users
6.2.2. Y-o-Y Growth Projections by End Users
6.3. Electronic Bill Presentment and Payment (EBPP) Market Size and Volume Forecast by End Users
6.3.1. BFSI
6.3.2. Healthcare
6.3.3. Insurance
6.3.4. IT
6.3.5. Media & Entertainment
6.3.6. Manufacturing
6.3.7. Others
6.4. Absolute $ Opportunity Assessment by End Users
6.5. Market Attractiveness/Growth Potential Analysis by End Users
7. Global Electronic Bill Presentment and Payment (EBPP) Market Analysis and Forecast by Region
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Region
7.2.2. Y-o-Y Growth Projections by Region
7.3. Electronic Bill Presentment and Payment (EBPP) Market Size and Volume Forecast by Region
7.3.1. North America
7.3.2. Latin America
7.3.3. Europe
7.3.4. Asia Pacific
7.3.5. Middle East and Africa (MEA)
7.4. Absolute $ Opportunity Assessment by Region
7.5. Market Attractiveness/Growth Potential Analysis by Region
7.6. Global Electronic Bill Presentment and Payment (EBPP) Demand Share Forecast, 2019-2026
8. North America Electronic Bill Presentment and Payment (EBPP) Market Analysis and Forecast
8.1. Introduction
8.1.1. Basis Point Share (BPS) Analysis by Country
8.1.2. Y-o-Y Growth Projections by Country
8.2. North America Electronic Bill Presentment and Payment (EBPP) Market Size and Volume Forecast by Country
8.2.1. U.S.
8.2.2. Canada
8.3. Absolute $ Opportunity Assessment by Country
8.4. North America Electronic Bill Presentment and Payment (EBPP) Market Size and Volume Forecast by Applications
8.4.1. Billers
8.4.2. Consumers
8.4.3. Bill Consolidators
8.4.4. Others
8.5. Basis Point Share (BPS) Analysis by Applications
8.6. Y-o-Y Growth Projections by Applications
8.7. North America Electronic Bill Presentment and Payment (EBPP) Market Size and Volume Forecast by End Users
8.7.1. BFSI
8.7.2. Healthcare
8.7.3. Insurance
8.7.4. IT
8.7.5. Media & Entertainment
8.7.6. Manufacturing
8.7.7. Others
8.8. Basis Point Share (BPS) Analysis by End Users
8.9. Y-o-Y Growth Projections by End Users
8.10. Market Attractiveness/Growth Potential Analysis
8.10.1. By Country
8.10.2. By Product Type
8.10.3. By Application
8.11. North America Electronic Bill Presentment and Payment (EBPP) Demand Share Forecast, 2019-2026
9. Latin America Electronic Bill Presentment and Payment (EBPP) Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.1.3. Latin America Average Pricing Analysis
9.2. Latin America Electronic Bill Presentment and Payment (EBPP) Market Size and Volume Forecast by Country
9.2.1. Brazil
9.2.2. Mexico
9.2.3. Rest of Latin America
9.3. Absolute $ Opportunity Assessment by Country
9.4. Latin America Electronic Bill Presentment and Payment (EBPP) Market Size and Volume Forecast by Applications
9.4.1. Billers
9.4.2. Consumers
9.4.3. Bill Consolidators
9.4.4. Others
9.5. Basis Point Share (BPS) Analysis by Applications
9.6. Y-o-Y Growth Projections by Applications
9.7. Latin America Electronic Bill Presentment and Payment (EBPP) Market Size and Volume Forecast by End Users
9.7.1. BFSI
9.7.2. Healthcare
9.7.3. Insurance
9.7.4. IT
9.7.5. Media & Entertainment
9.7.6. Manufacturing
9.7.7. Others
9.8. Basis Point Share (BPS) Analysis by End Users
9.9. Y-o-Y Growth Projections by End Users
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.11. Latin America Electronic Bill Presentment and Payment (EBPP) Demand Share Forecast, 2019-2026
10. Europe Electronic Bill Presentment and Payment (EBPP) Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Europe Average Pricing Analysis
10.2. Europe Electronic Bill Presentment and Payment (EBPP) Market Size and Volume Forecast by Country
10.2.1. Germany
10.2.2. France
10.2.3. Italy
10.2.4. U.K.
10.2.5. Spain
10.2.6. Russia
10.2.7. Rest of Europe
10.3. Absolute $ Opportunity Assessment by Country
10.4. Europe Electronic Bill Presentment and Payment (EBPP) Market Size and Volume Forecast by Applications
10.4.1. Billers
10.4.2. Consumers
10.4.3. Bill Consolidators
10.4.4. Others
10.5. Basis Point Share (BPS) Analysis by Applications
10.6. Y-o-Y Growth Projections by Applications
10.7. Europe Electronic Bill Presentment and Payment (EBPP) Market Size and Volume Forecast by End Users
10.7.1. BFSI
10.7.2. Healthcare
10.7.3. Insurance
10.7.4. IT
10.7.5. Media & Entertainment
10.7.6. Manufacturing
10.7.7. Others
10.8. Basis Point Share (BPS) Analysis by End Users
10.9. Y-o-Y Growth Projections by End Users
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.11. Europe Electronic Bill Presentment and Payment (EBPP) Demand Share Forecast, 2019-2026
11. Asia Pacific Electronic Bill Presentment and Payment (EBPP) Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Asia Pacific Average Pricing Analysis
11.2. Asia Pacific Electronic Bill Presentment and Payment (EBPP) Market Size and Volume Forecast by Country
11.2.1. China
11.2.2. Japan
11.2.3. South Korea
11.2.4. India
11.2.5. Australia
11.2.6. Rest of Asia Pacific (APAC)
11.3. Absolute $ Opportunity Assessment by Country
11.4. Asia Pacific Electronic Bill Presentment and Payment (EBPP) Market Size and Volume Forecast by Applications
11.4.1. Billers
11.4.2. Consumers
11.4.3. Bill Consolidators
11.4.4. Others
11.5. Basis Point Share (BPS) Analysis by Applications
11.6. Y-o-Y Growth Projections by Applications
11.7. Asia Pacific Electronic Bill Presentment and Payment (EBPP) Market Size and Volume Forecast by End Users
11.7.1. BFSI
11.7.2. Healthcare
11.7.3. Insurance
11.7.4. IT
11.7.5. Media & Entertainment
11.7.6. Manufacturing
11.7.7. Others
11.8. Basis Point Share (BPS) Analysis by End Users
11.9. Y-o-Y Growth Projections by End Users
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.11. Asia Pacific Electronic Bill Presentment and Payment (EBPP) Demand Share Forecast, 2019-2026
12. Middle East & Africa Electronic Bill Presentment and Payment (EBPP) Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Middle East & Africa Average Pricing Analysis
12.2. Middle East & Africa Electronic Bill Presentment and Payment (EBPP) Market Size and Volume Forecast by Country
12.2.1. Saudi Arabia
12.2.2. South Africa
12.2.3. UAE
12.2.4. Rest of Middle East & Africa (MEA)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Middle East & Africa Electronic Bill Presentment and Payment (EBPP) Market Size and Volume Forecast by Applications
12.4.1. Billers
12.4.2. Consumers
12.4.3. Bill Consolidators
12.4.4. Others
12.5. Basis Point Share (BPS) Analysis by Applications
12.6. Y-o-Y Growth Projections by Applications
12.7. Middle East & Africa Electronic Bill Presentment and Payment (EBPP) Market Size and Volume Forecast by End Users
12.7.1. BFSI
12.7.2. Healthcare
12.7.3. Insurance
12.7.4. IT
12.7.5. Media & Entertainment
12.7.6. Manufacturing
12.7.7. Others
12.8. Basis Point Share (BPS) Analysis by End Users
12.9. Y-o-Y Growth Projections by End Users
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.11. Middle East & Africa Electronic Bill Presentment and Payment (EBPP) Demand Share Forecast, 2019-2026
13. Competition Landscape
13.1. Global Electronic Bill Presentment and Payment (EBPP) Market: Market Share Analysis
13.2. Electronic Bill Presentment and Payment (EBPP) Distributors and Customers
13.3. Electronic Bill Presentment and Payment (EBPP) Market: Competitive Dashboard
13.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
13.4.1. Alacriti
13.4.2. Aliaswire
13.4.3. Adyen NV
13.4.4. ACI Worldwide
13.4.5. ClickPay
13.4.6. Fiserv, Inc
13.4.7. JP Morgan Chase & Co.
13.4.8. Jopari Solutions, Inc
13.4.9. Jack Henry & Associates
13.4.10. Kubra
13.4.11. Mastercard Incorporated
13.4.12. NCR Corporation
13.4.13. Payfirma
13.4.14. Paymentus
13.4.15. Symcor
13.4.16. Transactis
13.4.17. Tencent Holdings Limited
13.4.18. ZOHO Corporation
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