Global Electronic Bill Presentment And Payment Ebpp Market

Global Electronic Bill Presentment and Payment (EBPP) Market, By Product (Electronic Bill Presentment, Electronic Bill Payment, Electronic Bill Posting), By Application (Billers, Consumers, Bill Consolidator, Banks and Financial Institution), By Channel (Application Programming Interface (API), Mobile, Web, Email, IVR, POS, Kiosk), By End User (BFSI, Insurance, Healthcare, IT and Telecom, Retail, Education, Media and Entertainment, Manufacturing , Others), By Region (North America, Europe, Asia-Pacific (APAC), Latin America (LATAM), Middle-East & Africa (MEA) Trend Analysis, Competitive Market Share & Forecast, 2017-2027

  • Published Date: August 2021
  • Report ID: BWC2164
  • Available Format: PDF
  • Page: 195

Report Overview

Globalization, businesses expanding beyond boundaries, and consumers increasingly using plastic money in a variety of industries are driving the global electronic bill presentment and payment (EBPP) market growth is also driven by the use of high-speed internet access on smart phones.

The global electronic bill presentment and payment (EBPP) market was worth 18.5 number of bills in billion in 2020 and is further projected to reach 30.9 number of bills in billion by the year 2027, growing at a CAGR of 7.7% in the forecast period. The rapid globalization and businesses expanding beyond boundaries, alongwith the increasing adoption of plastic money among consumers as well as various industry verticals, are propelling the growth of the global electronic bill presentment and payment (EBPP) market. Furthermore, a strong and secure payment gateway infrastructure is also supporting the growth of the overall market.

Electronic Bill Presentment and Payment Market

Source: BlueWeave Consulting

Global Electronic Bill Presentment and Payment (EBPP) Market- Overview

In electronic bill presentment and payment (EBPP), bills and invoices are created and presented online. Invoicing and payment methods are made available through the Internet. Through EBPP, a customer of a financial institution can transfer money to their creditors or vendors and pay their bills via internet services at the click of a button through their smartphones, computers, and tablets. By using encryption and other technologies, banks and other companies provide their customers with a safe method of transferring funds and protect them from data breaches.

Global Electronic Bill Presentment and Payment (EBPP) Market Forecast and Trends

Growth Drivers

Increasing Acceptability of Electronic Bill Payment

The increasing acceptance of electronic bill payment is one of the major factors driving the global electronic bill presentment and payment(EBPP) market.With the increasing penetration of the internet and smartphones, as well as the emergence of various payment applications such as PayPal, Amazon Pay, Google Pay, and others, electronic bill payment is establishing a foothold in the local market, which is driving the market growth. Electronic bill payment methods are becoming more popular among consumers for routine payments such as daily grocery and dairy shopping, electric and water bill payments, and so on, which is projected to boost the market throughout the forecast period.

The Emergence of Various Electronic Bill Presentment and Payment Providers

With the rapid rise of the internet, a plethora of electronic bill presentment and payment alternatives and solutions have emerged. Various payments methods, such as internet banking, UPI, and mobile wallets have tremendous traffic on their servers for cash transactions. To meet the growing demands and facilitate the efficient handling of the traffic, market players are launching electronic payment platforms with encryption and other technologies for offering secure payment services. For instance, Pleo, a Danish Fintech company recently launched ‘Bills’ to simplify invoice payments for companies based in the United Kingdom. The platform also intends to help businesses save money when paying invoices as domestic transfers are free.

Restraints

Potential Risk of Frauds and Data Theft

Even though the EBPP service providers use encryption and other technology to make the payment gateways secure, there is still the possibility of fraud and data theft. Even if such risks occur once in a million times, they nonetheless create concerns and questions in the minds of customers. This factor also poses a major threat to the growth of the global electronic bill presentment and payment (EBPP) market. Therefore,businesses and EBPP service providers place a high priority on preventing card and customer data theft.

Impact of COVID-19 on Global Electronic Bill Presentment and Payment (EBPP) Market

Despite the fact that the COVID-19-induced pandemic was a major setback for many industries, it had a positive impact on the global electronic bill presentment and payment (EBPP) market. The global electronic bill presentment and payment (EBPP) market witnessed prolific growth opportunities during the COVID-19-pandemic. Prior to the COVID-19 pandemic, electronic payment was still on the upswing, but it was primarily used by teenagers and Millennials. However, in the aftermath of the outbreak, smartphone users of all ages started embracing electronic bill presentment and payment options even for basic needs like grocery shopping and utility bill payment.

Global Electronic Bill Presentment and Payment (EBPP) Market - By Product

Based on products, the global electronic bill presentment and payment (EBPP) market is segmented into electronic bill presentment, electronic bill payment, and electronic billposting. The electronic bill payment category maintains the biggest market share among these due to the rapid growth of internet-based banking and online shopping. As online payment service providers work continuously on improving and securing online payments, cash payment modes are expected to decline precipitously in the near future. As a result, the electronic bill payment market is projected to gain significant traction during the forecast period.

Global Electronic Bill Presentment and Payment (EBPP) Market - By Application

Based on applications, the global electronic bill presentment and payment (EBPP) market is segmented into billers, consumers, bill consolidators, banks, and financial institutions. Among these segments, the consumer segment holds the largest market share because of the emergence of various online services. Additionally, consumers are increasingly using electronic bill presentment and payment options since they are more convenient and secure. Additionally, e-commerce and services platforms offer a variety of payment methods, such as credit and debit cards, APIs, etc., which is helping to drive the segment's growth.

Global Electronic Bill Presentment and Payment (EBPP) Market - Regional Insights

Geographically, the global electronic bill presentment and payment (EBPP) market is segmented into North America, Europe, Asia-Pacific, Latin America, Middle-East & Africa. Among these regions, North America holds the largest market share because of the presence of strong internet foothold and payment solutions, such as PayPal, Authorize.net, SecurePay, etc. The Electronic Fund Transfer Act in the United States of America, which protects consumers from possible online fraud, plays an important role in creating trust in online presentment and payment solutions among customers in the region. These factors have been playing a primary role inboosting the growth of the electronic bill presentment and payment (EBPP) market in North America.

Regional Insights

Source: BlueWeave Consulting

Competitive Landscape

The leading market players in the global electronic bill presentment and payment (EBPP) market are Visa, Inc., ACI Worldwide, Bottomline Technologies Inc, Communications Data Group Inc., CSG Systems International Inc., CyberSource Corporation, eBillingHub, ebpSource Limited, Enterprise jBilling Software Ltd., FIS, Fiserv Inc., Jack Henry & Associates Inc., Jopari Solutions Inc., Pagero AB, PayPal Inc., SIX Payment Services Ltd., Sorriso Technologies Inc., Striata, Discover Financial Services, and other prominent players.

Numerous regional players and a handful of global players compete in this highly fragmented market. Companies like PayPal dominate the global market with very limited competition. The EBPP companies have been increasingly adopting competitive strategies like mergers, partnerships, acquisitions, collaborations, etc., to improve and expand their services.

Recent Developments

  • In August 2021, InvoiceCloud, a US-based EBPP solution provider, announced their strategic partnership with ESC Partners, a management consulting company for electric, water, and gas utilities company for delivering online payment solutions to municipal tax collection and utility services.
  • In August 2021, Paymentus Holdings, a US-based cloud-based bill payment technology provider, announced the acquisition of Payveris to enhance its services to financial institutions and for the expansion of Paymentus’ proprietary Instant Payment Network.

Scope of the Report

Attributes

Details

Years Considered

Historical data – 2017-2020

Base Year – 2020

Forecast – 2021 – 2027

Facts Covered

Revenue in Number of Bills in Billion

Market Coverage

The United States of America, Canada, Germany, the United Kingdom, France, Italy, Spain, Brazil, Mexico, Japan, South Korea, China, India, United Arab Emirates, South Africa, Saudi Arabia

Product Service/Segmentation

By Product, By Application, By Channel, By End-User, By Region

Key Players

Visa, Inc., ACI Worldwide, Bottomline Technologies Inc, Communications Data Group Inc., CSG Systems International Inc., CyberSource Corporation, eBillingHub, ebpSource Limited, Enterprise jBilling Software Ltd., FIS, Fiserv Inc., Jack Henry & Associates Inc., Jopari Solutions Inc., Pagero AB, PayPal Inc., SIX Payment Services Ltd., Sorriso Technologies Inc., Striata, Discover Financial Services, and other prominent players

 

By Product

  • Electronic Bill Presentment
  • Electronic Bill Payment
  • Electronic Bill Posting

By Application

  • Billers
  • Consumers
  • Bill Consolidator
  • Banks and Financial Institution

By Channel

  • Application Programming Interface (API)
  • Mobile
  • Web
  • Email
  • IVR
  • POS
  • Kiosk

By End-User

  • BFSI
  • Insurance
  • Healthcare
  • IT and Telecom
  • Retail
  • Education
  • Media and Entertainment
  • Manufacturing
  • Others

By Region

  • North America
  • Europe
  • The Asia-Pacific
  • Latin America
  • The Middle East & Africa

Frequently Asked Questions:

Ans: The global electronic bill presentment and payment (EBPP) market reached 18.5 number of bills in billion in 2020.
Ans: The major factors driving the growth of the global electronic bill presentment and payment (EBPP) market are the increasing acceptability of electronic bill payment and the emergence of various electronic bill presentment and payment providers.
Ans: The key players in the global electronic bill presentment and payment (EBPP) market are: Visa, Inc., ACI Worldwide, Bottomline Technologies Inc, Communications Data Group Inc., CSG Systems International Inc., CyberSource Corporation, eBillingHub, ebpSource Limited, Enterprise jBilling Software Ltd., FIS, Fiserv Inc., Jack Henry & Associates Inc., Jopari Solutions Inc., Pagero AB, PayPal Inc., SIX Payment Services Ltd., Sorriso Technologies Inc., Striata, Discover Financial Services, and other prominent players.
Ans: The BFSI segment accounted for the largest share in the global electronic bill presentment and payment (EBPP) market.
Ans: North America has the largest share in the global electronic bill presentment and payment (EBPP) market.