using mobile technology to improve the bill payment process
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Using Mobile Technology to Improve the Bill Payment Process. Will You Pay Me Now?. Utility Payment Conference. Today’s Discussion. Billing and payment philosophies Consumer payments behaviors MOBILE as an emerging payment channel Customer Case study Q/A. An interesting observation. - PowerPoint PPT PresentationTRANSCRIPT
Using Mobile Technology to Improve the Bill Payment Process
WILL YOU PAY ME NOW?
Utility Payment Conference
Today’s Discussion Billing and payment philosophies Consumer payments behaviors MOBILE as an emerging payment channel Customer Case study Q/A
An interesting observation
“If it’s not broken….
leave it alone.”
Many organizations do not have a consistent payment strategy
Payment processes randomly evolve to include new technology and online payment platforms
Eliminate fractured payment processesEliminate fractured payment processes
The argument for optimizing….
Match internal goals with consumer demand
Today’s Payment Channels
Mobile ImplicationsMobile ImplicationsPotential increased credit card processing fees
Opportunity to raise e-Payment and e-Bill adoption ratesIntegration of mobile bill payment with home banking capabilities; posting issues
Positive Payment Behavior
Right PlaceRight Place
Right TimeRight Time
Right MethodRight Method
You need your customers to pay the bill...
But what’s really important to your But what’s really important to your customer?customer?
How Do I Select My Channel?
The ability to pay any time plus using a variety of funding methods drives satisfaction and loyalty
Source: Consumer Trends Survey, 2011, Fiserv, Inc.
• Shifts in consumer payment behavior is driven by financial issues
• Time sensitivity remains a big driver
Time to Pay…Seize The Moment!Payments Volume Differential Consumer Choice of Channels
• Trends show rising preference of e-payments
• Biller Direct and Home Banking preferences are tied • 74% of consumers believe that
payment channel options are important
Source: 2011 Billing Household Survey, Fiserv, Inc.
Average Response Times
30-42 DAYS
40 SECONDS
3.2 DAYS
Source: Northwestern University, 2011, Lifestyle Communication
Gen Y Behaviors• Gen Y consumers expect an immediate, virtual customer
experience• Technology is their channel; mobility is a must
Rapid Pace of Technology
Multi-Use Multi-Use Devices are Devices are
gaining gaining popularitypopularity
Mobile Phones
Tablets
Mobile Access
Access to mobile technology continues to grow
Gap between “Feature Phone” and “Smart Device” ownership continues to narrow
Why Mobile Now?
What is the most common activity when visiting a biller website by
mobile phone?
• 30% of people with mobile phones have visited a Biller website• 6MM users have made at least one mobile bill payment• 74% of all cell phones are utilizing SMS Text Messaging
80% of mobile adoption will be Smart Phone 80% of mobile adoption will be Smart Phone by 2015by 2015
Source: Javelin Research 2011
Rising Costs of Mobility
Explosive Growth predicted for mobile payment and mobile banking
As mobile payments grow, so does the use of plastic….
What does this mean to your costs?
How Would You Describe Your Mobile Device?
Wouldn’t it be great to hear the customers say Wouldn’t it be great to hear the customers say this about paying their bills?this about paying their bills?
CCPS Profile
Division of Consolidated Communications Consolidated Public Services is a single,
coordinated source for providing the communication backbone for county and state correctional institutions.
Since 1984, Consolidated Communications Public Services (CCPS) has provided telecommunications solutions that give correctional institutions the best technology and dedicated support in the industry while maintaining inmate and family morale with reliable phone service.
Decision to Go Mobile
Key Consideration: New opportunity for our
customers, we are always looking for ways to take a payment from a customer.
Revenue generation•Objectives of program:
– make it easier for everyone involved: user, customer service rep, IT, and make it efficient/easy for the customers.
Choosing a Mobile Partner/Program
Gearing Up
• Decision in Q1 2013; initial implementation Q3 2012
• 6 week project plan• Implementation support includes project
management, training, and customized reporting
Week 1
Week 2-4
Week 5 Week 6
Adoption and Education 68% increase in customer adoption in last 3
months We hope for increased adoption through
targeting specific customers Website Highlights Customer Service/Collection Calls IVR recording Bill Inserts Existing e-billing Registered Users
Web Redesign
So What…
What does this mean for you?What does this mean for you?Are you ready to “Mobilize”Are you ready to “Mobilize”
• Disposable income is shrinking
• Payment cycles are getting longer
• Consumers face difficult decisions when it comes time to pay the bills
• “Cross the Channel”
Thank YouSteven EstroffVice PresidentFirsTech Payment Solutions(770) [email protected]
Kelly ColeGeneral ManagerConsolidated Communications Public Service(217) 258-2986 (office)[email protected]