Power to the People: Evolving Your Bill Payment Options
- May 6, 2021 8:32 pm GMTMay 6, 2021 6:03 pm GMT
- 326 views
By Rob Houser, Fiserv
Energy companies are witnessing a rapid evolution in bill pay fueled by constantly rising consumer expectations, and accelerated by the COVID-19 pandemic. It's a complex challenge that calls for flexibility and a willingness to expand the definition of bill pay beyond making a repeated payment for a regular service. In this article, we discuss three ways you can enhance customer satisfaction and engagement by evolving your bill payment options.
Making Bill Pay Easy
Many people remain financially stressed as the pandemic continues to wreak economic havoc. This includes utility customers who, due to financial hardships, may have to prioritize certain bills over others. According to the 2020 Fiserv Expectations & Experiences: Consumer Payments survey, electricity, gas and water bills, along with mortgage/rent and wireless bills, are consumers’ top five monthly bill payment priorities.