Phoenix, Ariz. – May 12, 2011 – BillingTree, one of the nation's leading on-demand payment processors, was rated the largest biller direct vendor by number of customers in a recent report by financial services research analysts Aite Group – Biller Direct Technology: Vendor Overview published April 2011. The Report found that BillingTree enjoyed a 20% growth with over 1,500 customers. In terms of acquisition velocity – number of clients divided by the years in business – BillingTree was the highest of the companies surveyed.
The report by senior analyst Kunal Pandya aims to give insight into the state of the biller industry and found the market saw slower growth for acquiring billers by the year-end 2009 than it had the year before. Despite this, BillingTree ranked second in terms of product penetration with a figure of 38%.
Industries addressed within the report include Utilities, Landline Telecom, Wireless Telecom, Cable/satellite, Insurance, Credit Card, Auto loans, Mortgage, Other financial Services, Education, Media, Property Management, Healthcare and Other. Vendors participating in the study include Alacriti, Aliaswire, BillingTree, FIS, Fiserv, Online Resources, and Tier Technologies. Other vendors believed highly qualified to participate but declined to join the study were Kubra, PayDQ, and Western Union.
"While we view BillingTree as an offering extremely well suited for small and midsize billers with 1,000 to 50,000 bills a month," said Pandya, "BillingTree showed the shortest implementation time of 4 to 6 weeks for billers sized over one million bills per month and for 100,000 to one million bills per month."
The report also found paying bills via text/SMS on mobile phones is expected to take off in the industry.
According to Pandya, "Mobile payments and presentment as a substitution for Web, IVR, customer service representative (CSR), and email payments is gaining momentum. More and more consumers are buying mobile technology such as smartphones, iPads, etc., which are quickly becoming a substitute for laptops…In addition to that, Gen Y, which has only recently come of bill-paying age, comprises avid users of mobile technology. We believe that mobile technology will be a catalyst for shifting bill pay behaviors and creating growth in mobile bill payments."
BillingTree is one of the leading pioneers in this field through its mobile solutions suite launched earlier this year.
BillingTree supplies the leading fully integrated, multi-channel electronic payment platform to a growing list of Industries, including Insurance, Utilities (such as energy, cable, municipal, and phone), as well as Healthcare and Subscription-billed services. Benefits of electronic payment solutions include an accelerated availability of consumer funds, reduced costs associated with manual-payment processing, improved cash management, and integrated processing by managing all payments, returns, and corrections through a single portal.
About Aite Group, LLC
Aite Group is a leading independent research and advisory firm focused on business, technology and regulatory issues and their impact on the financial services industry. It was founded by leading industry experts in Banking and Securities & Investments. Aite Group brings together a team of business strategy, technology and regulatory experts to deliver comprehensive, timely and actionable advice to financial institutions and technology vendors. It seeks to become a true partner, advisor and catalyst by exchanging ideas with and challenging basic assumptions of its clients, ensuring that they always stay one step ahead of the competition.
The proven leader in on-demand payment processing, BillingTree empowers customers with competitive advantage through a simplification of the billing and receivables process. By delivering the most innovative technology while making it as easy and inexpensive as possible to accept payments, BillingTree has revolutionized the payments landscape. Our software-as-a-service (SaaS) model delivers industry-leading payment solutions, proven integration, and point-and-click simplicity. BillingTree’s focus on innovation has allowed us to help more than 1,600 customers eliminate manual processes and automate their payment cycles. BillingTree – Growth is our Business. For more information, visit www.mybillingtree.com or call 877.4.BILLTREE.
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