Payments at the point of thought

Consumer choice, intuitive channels drive the evolution of billing and payments.

When Patrick Howard discusses people’s expectations for how, when and where they pay their bills and engage with companies, he repeatedly invokes one word: choice.

Consumers face daily time constraints, so they want convenience, speed and flexibility both in how they are billed and how they pay. They expect those experiences to be immediate and intuitive, and they expect their providers to know them and anticipate ways to help them.

Their preferences can change from month to month, with a consumer choosing to pay by phone to avoid a late charge and then through a billing organization’s website. They want immediate confirmation of payment and access to an archive of past transactions.

Put simply, people expect freedom of choice, and if billing organizations can meet that single expectation in all its forms and across every touchpoint, they’ll have a competitive advantage, Howard, a Fiserv vice president, said. If they fall short, they’ll experience the downside of choice.


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