Report highlights rising transaction volumes of non-cash-payments growing at a compound annual growth rate of 8.3% globally
Phoenix, Ariz. – November 22, 2011 – BillingTree®, one of the nation’s leading on-demand payment processors, has been featured in the latest report from the financial analysts at the Aite Group – Making Sense of the Global Non-Cash-Payments Market. The report examines the increasing complexity of the non-cash-payments market at a time when it is growing at a rate of over 8.3% globally.
The report by senior Aite Group analyst Nancy Atkinson published in November 2011 details the diverse and complex global payments-processing landscape, placing BillingTree's services alongside those of 44 other vendors. The report examines each vendor's support of individual payments functions, including card payments, account maintenance functions, customer service and fraud prevention.
"Understanding a vendor's capabilities, along with the different payment channels that it supports, helps put its services in context and clarify the ways in which it facilitates payments processing," commented Nancy Atkinson, senior analyst, Aite Group. "This report highlights exactly what each vendor surveyed offers, and enables consumers to make a decision based on their unique needs, and identify the vendor which best suits them."
"Despite slow global economic recovery, the number of payments generated is continuing to grow, so the need to enhance payment processing services remains as important as ever," commented Scott McCollum, BillingTree's President. "This is the third Aite Group report in which BillingTree is featured this year, highlighting our presence in this space and ability to support the vast majority of functions necessary in today's market, a key benefit for our customers."
BillingTree supplies the leading fully integrated, multi-channel electronic payment platform to a growing list of Industries, including Insurance, Utilities, such as power, 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 1,800 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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IBA, PR for BillingTree