What's driving the Electronic Bill Presentment and Payment (EBPP) Market Growth? Prominent Players: Visa, PayPal, Mastercard, Fiserv, Bottomline Technologies, Discover Financial Services, ACI Worldwide, CyberSource, Cypher Systems Group (CSG), jBilling, P

The rising number of internet enabled smart phones around the world is creating growth opportunities for the global electrical bill presentment and payment (EBPP) market says, Fortune Business insights in a report, titled “Electronic Bill Presentment and Payment (EBPP) Market Size, Share And Global Trend By Product (Electronic Bill Presentment, Electronic Bill Payment, Electronic Bill Posting), By Application (Billers, Consumers, Bill Consolidator, Banks & Financial Institutions), By Channel(Application Programming Interface (API), Mobile, Web, Email, IVR, POS, Kiosk), By End Use Industries(BFSI, Insurance, Healthcare) And Geography Forecast Till 2026.” The growing mobile internet networks is contributing positively to the global electronic bill and payment services industry.

Browse Complete Report at https://www.fortunebusinessinsights.com/industry-reports/electronic-bill-presentment-and-payment-market-100498

PayPal’s Partnership with Synchrony to Augur Well for Market

PayPal Inc., an American online payment services company announced its partnership with a consumer financial company, Synchrony financial. The partnership is established with an aim to expand relationships between the two companies while extending their consumer credit card program agreement. The electronic bill and payment services market is predicted to gain considerably from the merger between the companies, which involves the credit card agreement of the PayPal Extras MasterCard and the PayPal Cashback MasterCard. The launch of advanced wallet cards is expected to fuel demand among customers which in turn will drive the global electronic bill and payment services industry.

For instance, Visa announced the world’s first wallet card. Features of the wallet include the capacity to access various cards, magnetic stripe-based or contactless, whether EMV, to a programmable on-card display that enables account information, such as coupons or alerts, to be sent to the cardholder via an implanted antenna. The rising penetration of smartphones will fuel the demand for the aforementioned features, which is a key factor enabling growth in the market. In addition to this, acquisitions by market key players and the launch of wallet card are predicted to accelerate growth to the electronic bill and payment services revenue flow.

Consumer Preference for Online Payment Will Benefit Market

Rising adoption of credit and debit cards is one of primary reasons enabling the electronic bill & payment services market growth. Financial institutions and banks are playing a vital role in transforming the payment method system while providing debit cards to all account holders. Electronic bill presentment is also known as e-invoicing, e-billing, and others. The rising number of users using digital payment method is having an outstanding effect on the market.

For instance, In the U.K, the number of users for digital payments rose to more than 600 million. Mobile internet allows quick accessibility to numerous payment portals which assists customers to carry out various transactions such as payments using credit card or debit card, access latest e-bills via e-mails immediately and online bank transfer which subsequently aids growth to the electronic bill presentment and payment.

Moreover, the rising number of laptops and notebooks along with rising use of internet-enabled smartphones is fostering the growth of the electronic bill presentment and payment (EBPP) market. In addition, growing inclination towards BYOD (Bring Your Own Devices), and escalation in number of mobile internet networks are also predicted to contribute growth to the electronic bill presentment and payment (EBPP) market.
North America to Lead the Global Market
Geographically, the global electronic bill presentment and payment (EBPP) market is segmented into North America, Europe, Asia pacific, Latin America, the Middle East & Africa. North America is presently leading the global electronic bill presentment and payment (EBPP) market and is excepted to dominate the electronic bill presentment and payment market in the forthcoming year. The wide adoption of mobile payment as preferred mode of payment among people is fostering growth for the electronic bill presentment and payment market in the region.
Asia Pacific is also expected to grow at a considerable rate, owing to the internet penetration and smart phone penetration rate for digital payments. The improvement in digital payment system along with rising e-commerce sales is contributing significantly to the global electronic bill presentment and payment (EBPP) market. In addition, technological advancement in online business models is fueling demand for debit and credit cards and therefore enabling growth of the global electronic bill presentment and payment (EBPP) market.

Some of the key players in electronic bill
presentment and payment (EBPP) market Include, Visa, Inc., CyberSource Corporation, Bottomline Technologies Inc., Communications Data Group Inc., CSG Systems International Inc., Discover Financial Services, Enterprise jBilling Software Ltd., Fiserv Inc., ACI Worldwide Inc., MasterCard Inc., Pagero AB, PayPal Holdings Inc. etc.

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