The global market for Electronic Bill Presentment and Payment (EBPP) estimated at $22.5 billion in 2022, is projected to reach a revised size of $30.6 billion by 2027, growing at a CAGR of 7.7% over the analysis period.
Billers who are yet to start their digital transformation are required to focus on a digital plan that can deliver end-to-end digitization. Initially, they can start the digitization of the front-end processes, such as the customer engagement in the payment and billing process, in order to streamline the transformation of the back-end processes. End-to-end digitization can simplify automation and make the entire process touch-free, which is currently the preferred way of transaction for a growing number of customers.