Global Electronic Bill Presentment and Payment (EBPP) Market Size & Share is Growing at the CAGR of 7.7% in the Forecast Period 2027 | BlueWeave

Electronic bill presentment and payment (EBPP) market is being driven by factors such as globalization, businesses expanding overseas, and consumers increasingly using plastic money. Market growth is also driven by the use of high-speed internet access on smart phones...

A recent study conducted by the strategic consulting and market research firm BlueWeave Consulting revealed that the global electronic bill presentment and payment (EBPP) market was worth 18.5 number of bills in billion in the year 2020. According to the data yielded by the study, the market is estimated to grow at a CAGR of 7.7%, earning revenue of around 30.9 number of bills in billion by the end of 2027. Due to factors such as the increasing acceptance of electronic bill presentment and payment as a mode of money transfer and the emergence of various modes and payment platforms for both global and regional payments, the global electronic bill presentment and payment market (EBPP) is growing at a high CAGR. However, the high risk of data theft and fraud associated with electronic payment may act as a restraining factor for market growth.

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Wide Array of Conveniences of Electronic Payment Is Estimated to Drive the Global Electronic Bill Presentment and Payment (EBPP) Market Growth

Young adults today are increasingly turning to electronic payments as an alternative to cash payments. The wide range of conveniences it has to offer such as high security, promptness, and efficiency works in favor of the growth of the global electronic bill presentment and payment (EBPP) market. Electronic payments are done with cards, mobile wallets, or wearable devices, and are significantly faster than cash payments. Furthermore, its processing is much faster as all the transaction details are already in the system which saves a lot of time for manual entry and processing. That is why most online sales and service platforms recommend electronic payments and offer great deals and discounts on them.

The Increasing API Segment Is Projected to Boost the Global Electronic Bill Presentment and Payment (EBPP) Market

Based on channels, the global electronic bill presentment and payment (EBPP) market is segmented into application programming interface (API), mobile, web, email, IVR, POS, and kiosks. The application programming interface (API) segment accounts for the largest market share because of its high use in e-commerce websites. Through the payment API, one program can present a bill and pay it electronically, while another program processes it. This system also makes it easier for the browser to share known credit details with the merchant or vendor.

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

Based on end-users, the global electronic bill presentment and payment (EBPP) market is segmented into BFSI, insurance, healthcare, IT and telecom, retail, education, media and entertainment, manufacturing, and others. The BFSI segment accounts for the largest market share as the financial services are mainly acquired by businesses. Many financial service providers, like banks, wealth management companies, and tax consulting companies, have to make a numerous cash transaction based on their size. Due to this, their need for strong electronic bill payment solutions is high, which proliferates market 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, North America holds the largest market share. The Asia-Pacific region, on the other hand, is projected to witness the highest CAGR during the forecast period. The increasing penetration of the internet and smartphones in these regions are presenting lucrative growth opportunities to the electronic bill presentment and payment (EBPP) market. Furthermore, developing IT and telecom infrastructure in countries like India, China, South Korea is also influencing the growth of the electronic bill presentment and payment (EBPP) market in the Asia Pacific.

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

The COVID-19-induced pandemic significantly boosted the growth of the global electronic bill presentment and payment (EBPP) market. The COVID-19 is a highly communicable disease that can spread through human contact. People avoided physical contact since social distancing measures were recommended by the World Health Organization. Cash payments were also not recommended since they can spread the virus. In response, the number of people using electronic payments for daily transactions increased. The result was a massive increase in traffic on the servers of electronic bill presentment and payment solution providers, boosting their market growth.

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Competitive Landscape

The leading 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.

The market is highly fragmented with the presence of several regional market players and a handful of global players. The global market is dominated by companies like PayPal with limited competition. Moreover, EBPP companies have been increasingly adopting competitive strategies such as mergers, partnerships, acquisitions, collaborations, etc., to improve and expand their services.

Don’t miss the business opportunity of the global electronic bill presentment and payment (EBPP) market. Consult our analysts to gain crucial insights and facilitate your business growth.

The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of the global electronic bill presentment and payment (EBPP) market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends of the global electronic bill presentment and payment (EBPP) market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyses the growth drivers, challenges, and competitive dynamics of the market.

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