Electronic Bill Presentment and Payment (EBPP) Market | Opportunities, Business Forecast To 2028

The global electronic bill presentment and payment market size valued USD 17.9 billion in 2021 and expected to grow at a CAGR of 7.5% during the forecast period 2022-2028. Companies employ the electronic bill payment and presentment (EBPP) procedure to obtain payments online using resources like the Internet, direct dial access, and automated teller machines (ATMs). It is now an essential part of many financial organisations' online banking services. The EBPP services are also necessary for other sectors of the economy, such as insurance businesses, telecommunications firms, and utilities.

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Electronic Bill Presentment and Payment (EBPP) Market Growth Factors:
The primary driver of the EBPP industry is the rising popularity of smartphones with high-speed internet connection. Customers can do a variety of transactions utilising mobile internet, including payments using debit and credit cards, online bank transfers, and instantaneous access to the most recent e-bills via e-mails. Businesses are encouraging the usage of mobile devices by giving their staff members tablets and smartphones so that they can increase employee productivity and generate income. The EBPP market is driven by a high level of laptop and notebook adoption, the growing BYOD (Bring Your Own Devices) trend, the expansion of mobile internet networks, and a rise in internet-enabled smart phones. The fierce competition between suppliers, which enables the development of integrated communication services like 4G mobile network deployments and leads to a quick growth in broadband internet systems, is one of the main drivers driving the growth of the EBPP industry. The internet's ever-increasing speed, storage capacity, bandwidth, and processing power on demand are encouraging businesses to switch to online business models that accept payments via credit cards and third-party services like PayPal.

The global electronic bill presentment and payment market segmentation:
On the basis of Channel,the market is divided into Mobile, Email, Web, and Others. On the basis of end use, the market is segregated into BFSI; Healthcare; IT & Telecom; Media & Entertainment; Others.

Electronic Bill Presentment and Payment (EBPP)
Market Regional Analysis:
In the United States, the market for electronic bill presentation and payment (EBPP) is anticipated to reach 6.5 billion bills in 2021. Now, the nation holds a 27.67% market share worldwide. The second-largest economy in the world, China, is anticipated to grow at a CAGR of 14.8% over the course of the analysis period to reach an estimated market size of 6.5 billion dollars in 2027. Japan and Canada are two more notable geographic markets, with growth rates of 9.5% and 10.5% during the course of the analysis, respectively. Germany is expected to develop within Europe at a rate of roughly 1.6% CAGR, while the rest of the market (as defined in the study) will total 7.7 billion dollars by the end of the analysis period.

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Key players in the electronic bill presentment and payment market Bottomline Technologies Inc, Communications Data Group Inc., CSG Systems International Inc., CyberSource Corporation, eBillingHub, FIS, Fiserv Inc.

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