Increasing consumer electronics industry in developing economies followed by rising per capita spending is expected to increase telecommunication electronic bill presentment and payment market concentration over the coming years.
Dallas, Jan. 28, 2022 (GLOBE NEWSWIRE) -- Telecommunication EBPP is described as the delivery of billing information to end users via electronic media while also providing the necessary electronic payment choices to allow timely settlement. The EBPP model, which was developed by the National Automated Clearing House Association's Council for Electronic Billing and Payment, is a sort of electronic billing in which billers produce electronic invoices for clients to see and pay via an electronic medium (Internet). EBPP systems, often known as e-billing or e-invoicing, are widely utilized by utility, financial services, and telecommunications industries.
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In contrast to paper bills and statements, this can only provide static and one-way communication, electronic bill presentment and payment (EBPP) enables for interactive, customized, and real-time transmission of statements and bills. The use of EBPP technology guarantees that bill payment procedures are automated, streamlined and managed. The global telecommunication electronic bill presentment and payment market revenue is projected to reach close to USD 13,991.2 million by 2028.
The convenience provided by technology is a crucial factor driving growth in the EBPP industry. EBPP services are becoming increasingly popular among customers and businesses alike, owing to the high degree of ease they provide to consumers while allowing commercial institutions to reduce bill dispatch. Mobility is the new buzzword among today's tech-savvy, smart phone-obsessed young folks. E-billing usage is being fueled by a growing emphasis on anytime convenience, transaction transparency, ease of use, and safe and secure time-saving choices. EBPP gives clients more control over the billing process and assures faster and more secure bill payments. Consumers prefer e-billing since the technology helps to safeguard the environment by allowing them to switch to paperless bills.
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The trend toward newer payment mechanisms, such as mobile-based payments, will continue to help the sector. Forward-thinking firms that focus on developing trustworthy, eco-friendly customer connections, as well as those that leverage the power of the Internet will continue to outperform other organizations. Service providers may use EBPP to provide a simple platform for clients to see and pay bills online. Customers who are short on time are finding EBPP to be more convenient and straightforward to use for bill payment while obtaining access to the same account as the supplier contact center. EBPP systems will see growing acceptance as a result of the benefits provided by the technology over competing technologies. EBPP is poised to become a critical role in the success of any modern firm, owing to reasons such as technological advancements, lower e-payment costs, and the benefits provided to both customers and enterprises.
E-billing and payment system growth has been and will continue to be driven by factors such as ensured security, enhanced control, privacy, and convenience. EBPP will continue to target financial services and insurance firms (including credit card issuers, retailer banks, and investment banks), as well as the telecoms industry, which generates hundreds to millions of invoices every month.
The global telecommunication electronic bill presentment and payment industry is basically segmented into application, type, and regional scenarios. On considering the type segment, the global industry is segregated into the aggregate model, the direct mode, and push/invited pull technology. On considering the application segment, the global market is fragmented into mobile telecommunication and fixed telecommunication.
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Table of Contents
Chapter 1 Introduction
Chapter 2 Research Methodology
Chapter 3 Executive Summary
Chapter 4 Market Outlook
Chapter 5 Telecommunication Electronic Bill Presentment and Payment Market by Type
Chapter 6 Telecommunication Electronic Bill Presentment and Payment Market by Application
Chapter 7 Telecommunication Electronic Bill Presentment and Payment Market by Region
Chapter 8 Competitive Landscape
Chapter 9 Company Profiles
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