KUBRA billing and payment research reveals digital preference is on the rise
by CM staff
Traditional payment methods are being replaced by mobile apps, biller websites, and bank websites, further fueling the momentum of digital payments.
MISSISSAUGA — KUBRA, a provider of customer experience management solutions for utility, insurance, and government entities, recently released a research report focused on the changing face of payments, providing utilities with insight into current customer expectations when it comes to payment experiences.
Key findings of KUBRA’s Utility Consumer Billing and Payment Report 2023 include:
- Consumers’ use and appetite for digital options are growing.
- Demand for digital experiences is also rising.
- Top payment methods are all digital, including mobile apps, biller websites, and bank websites.
- Preference for digital extends to how customers want to receive their bills.
- Credit and debit cards are the most preferred payment methods.
- Ease of use, convenience, and time management benefits drive the digital trend.
“Our research found that utility companies that show a commitment to meeting customer needs through innovative payment solutions can improve customer experience, trust, and satisfaction,” said Shaun Jackson, Senior Vice President of Marketing at KUBRA. “Utility companies should anticipate the ongoing expansion of digital payment trends as customers increasingly rely on digital platforms and younger generations assume greater responsibility for bill payments.”
Traditional payment methods are being replaced by mobile apps, biller websites, and bank websites, further fueling the momentum of digital payments. A detailed comparison of the most popular payment channels identifies a surge in the popularity of mobile apps in recent years, as 53 per cent prefer mobile apps compared to 32 per cent in 2020.
