The 7th Billing Household Survey from Fiserv provides insights for billers in fostering, improving and maintaining customer satisfaction and loyalty.

1. © 2014 Fiserv, Inc. or its affiliates.
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Key insights for billers in fostering, improving and maintaining customer satisfaction and loyalty
7th Annual Billing Household Survey from Fiserv

2. © 2014 Fiserv, Inc. or its affiliates.
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Source: Seventh Annual Billing Household Survey, Fiserv Inc., 2014
How What Where
do consumers receive and pay their bills?
technologies, attitudes impact consumer billing and payment behavior?
can billers improve customer satisfaction and profitability?
Since 2008, Fiserv has sponsored the industry’s most comprehensive survey to find out.

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Source: Seventh Annual Billing Household Survey, Fiserv Inc., 2014
“By understanding how consumer billing and payment behavior is changing as technology evolves, companies can positively impact customer satisfaction through their billing and payment experiences.” – Eric Leiserson, Senior Research Analyst, Fiserv

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Source: Seventh Annual Billing Household Survey, Fiserv Inc., 2014
Alerts, reminders increase e-bill adoption, prevent fees and frustration
Choices matter: multiple billing and payment methods tied to increased satisfaction
Consumers, especially Millennials expect expedited bill payment options
Need for speed fuels rise in use of guest checkout option
Mobile bill payers grow by 69% in 2014

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Source: Seventh Annual Billing Household Survey, Fiserv Inc., 2014
(as a percent of all US households)
Number of bill payment
methods consumers
use monthly
Consumers are bill payment “omnivores”
that want to receive and pay where they want,
when they want
The average U.S. household uses
different bill payment methods each month 3
27%
20%
21%
9%
15%
8%

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Source: Seventh Annual Billing Household Survey, Fiserv Inc., 2014
For harried consumers, organization issues top bill pay concerns.
19%
21%
23%
29%
35%
Keeping track of due dates
Possibility of late payments
Organizing all the bills and payments
Knowing when to pay and how much
All the paper and clutter

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Source: Seventh Annual Billing Household Survey, Fiserv Inc., 2014
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Offering multiple bill payment options eases the pain – and improves satisfaction.
“Consumers are coming to expect multiple options – no matter what the size of the biller.” – Eric Leiserson
Increases
Customer
Satisfaction
43%
Senior Research Analyst, Fiserv

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70%
30%
Was a late fee paid?
Why are consumers past due?
46%
Cash flow difficulties
38%
Forgot due date
21%
Hectic time of year
No
Yes
Why do 36% of consumers pay bills late?

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Source: Seventh Annual Billing Household Survey, Fiserv Inc., 2014
30 million consumers have used emergency bill payments.
74% expect their billers to offer emergency payment options.

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Source: Seventh Annual Billing Household Survey, Fiserv Inc., 2014
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The impact of offering
emergency bill payments
on satisfaction.
Increases 57%
Decreases 1%
No Change 42%

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Source: Seventh Annual Billing Household Survey, Fiserv Inc., 2014
What’s behind the increase?
Only wanted to pay once
Registering takes too much time
Didn’t want another name and password
Didn’t want to give personal information to another company
46%
40%
34%
30%
In 2014, 28% Used Guest Check Out Option at Biller Sites to Pay Bill vs 7% in 2013

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Mobile Bill Payers Grew by 69%
2011
2012
2013
2014
27%
16%
8%
6%
Why?

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Source: Seventh Annual Billing Household Survey, Fiserv Inc., 2014
What types of bills do
mobile bill payers pay?
54%
Cell Phone
51%
Cable or
Satellite
39%
Electricity
26%
Insurance
25%
Major Credit
Card
21%
Department
Store

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Source: Seventh Annual Billing Household Survey, Fiserv Inc., 2014
Consumers like easy,
fast and convenient
bill payment.
The effect paying by mobile
device has on customer
satisfaction with billers
Increases 60%
No Impact 39%
Decreases 1%

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Source: Seventh Annual Billing Household Survey, Fiserv Inc., 2014
How are consumers paying via mobile devices?
56%
Bank mobile web site
Biller mobile web site
App downloaded from bank
App downloaded from biller
SMS or text
App from other provider
60%
33%
33%
29%
21%

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Source: Seventh Annual Billing Household Survey, Fiserv Inc., 2014
About 40% of tablet owners have visited a biller’s site, mostly to view or pay a bill.
21%
26%
42%
51%
Pay a bill
Access a bill or view history
Shop for products
Contact customer service

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Bill pay due reminders would overwhelmingly
enhance customer satisfaction
Increases
No Impact
Decreases
77%
17
21% 2%

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Source: Seventh Annual Billing Household Survey, Fiserv Inc., 2014
71% Say receiving bill due alerts increases their likelihood of adopting e-bills
…and these alerts can boost e-bill adoption too.

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Source: 2014 Fiserv Billing Household Survey
Paperless e-bills delivered to bank and biller websites increase customer satisfaction

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Source: Seventh Annual Billing Household Survey, Fiserv Inc., 2014
The Paperless Generation: Millennials are the most interested in ditching paper
Seniors
8%
Boomers
30%
GenX
36%
Millenials
55%

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Source: Seventh Annual Billing Household Survey, Fiserv Inc., 2014
Double-dippers
All Paper
28%
No Paper
25%
Some
Paper
47%
Many biller direct payers receive
bills electronically and via paper

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Source: Seventh Annual Billing Household Survey, Fiserv Inc., 2014
Steady Growth of E-bills Distributed Through Online Banking
Why?
E-bills Help Manage Finances
Number of US Households (in millions)
2013
2008
2009
2010
2011
2012
14.9
13.7
13.0
11.6
7.8
6.6
3 out 4 say

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For more insights on bill payment: White Paper: Boosting Satisfaction and Loyalty with Billing and Payments http://fisv.co/billing-satisfaction Fiserv YouTube Channel: Omni-Channel Strategy for Bill Pay Omnivores http://fisv.co/1FQPbCD

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Source: Seventh Annual Billing Household Survey, Fiserv Inc., 2014
Methodology: 7th Annual Consumer Billing Household Survey
•In 2014, Fiserv Biller Solutions sponsored a replication of its annual online survey
•The survey was completed by 3,021 respondents representative of 100M households using the internet
•Typical margin of error is +/-1.7% for percents based on 3000 respondents
•Will vary based on base size and percent
•Survey was designed to provide the current view of the consumer billing and payment marketplace
•Results compared to similar surveys sponsored by Fiserv to capture ongoing and emerging trends