The State of Bill Pay: Digital Payment Trends and Growing Demand for Text Messaging

Convenience is the name of the game.

Americans are growing accustomed to fast, easy, and frictionless transactions, and businesses have much to gain. Text, one of the most low-cost and effective ways to communicate with consumers, is paving the way for businesses to improve profit margins and enhance the customer experience.

This report explores the state of bill pay and ways in which text can best serve billers and consumers. It is based on findings from a Q3 2023 survey, commissioned by Solutions by Text, of 2,005 U.S. bill-paying consumers who own cellphones to understand their attitudes and preferences when using text to pay their bills or communicate with billers.

Clients of Datos Insights’ Retail Banking & Payments service can download this report.

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