New research by Mercator Advisory Group profiles nine bill payment processors
Boston, MA -- Walk-in bill payments provide an option for people who need to make payments but cannot or choose not to do so with an electronic means of payment or a check. Typically, these customers visit a retail location, kiosk, or biller's office to make a payment using cash. While other forms of payments are sometimes accepted, the most common form of payment is cash.
Mercator Advisory Group's new report, Third-Party Walk-In Bill Payments in the United States, focuses on payments made where the payer physically visits an agent location, such as a check casher, customer service desk in a grocery store, or kiosk to make a payment primarily by cash or check. It describes the market opportunity and the business model for walk-in bill payments and provides brief profiles of several major and emerging service providers.
The report covers third-party providers of these services. It does not include walk-in bill payments made directly at a biller's offices, money orders, online bill payments, or automatic bill payments. While this report notes where the major providers have significant overseas presence, it concentrates on the walk-in bill payment market in the United States.
"The future of walk-in bill payments is caught up in the tension between a number of conflicting trends," says Ben Jackson, senior analyst and author of the report. "Some of them seem to indicate that the business is likely to grow, while others would seem to indicate that walk-in bill payments will fade over time."
The report discusses these trends and covers possibilities and opportunities for financial institutions and other financial services companies.
Companies mentioned in this report include: Western Union, MoneyGram, TIO Networks, CheckFreePay, Softgate Systems, Fidelity Express, Epayworldwide, PreCash, Global Express, Fuze Network, PayNearMe, and ZipZap Inc.
Members of Mercator Advisory Group's Debit Advisory Service have access to this report as well as the upcoming research for the year ahead, presentations, analyst access and other membership benefits.