Bill Pay Industry 101

What is the bill pay industry? Bill payments are ubiquitous. Every adult and every business pays bills of some kind. However, the bill pay industry is often overlooked by the banking industry, even by those in the payments field. Nearly four trillion dollars in bill pay transactions are conducted annually in the U.S. Why doesn't this massive market get due attention or investment? The short answer is that financial institutions do not make money outright on bill payment services. Money changes hands during bill payments without incurring fees or accruing interest. In fact, bill payment management and technology loses money [...]