Table of Contents
- Overview
- Primary Questions
- Findings and Analysis
- Methodology
- Executive Summary
- Javelin' s 2008 Expedited Payments Forecast
- Expedited Payments Strategy for 2009
- Substantial Base of Consumers Engage in Expedited Payments
- Expedited Payments Expenditure Varies Based on Economic Situation
- Understanding Consumer Motivators as a Function of Competition and Pricing
- Fewer Households use Expedited Payments in A Struggling Economy
- In a Recovering Economy, Savings Vastly Eclipses Spending
- In a Struggling Economy, Spending Eventually Exceeds Savings
- Frequent Users Present Prime Revenue Opportunities
- Younger Consumers Show High Propensity for Frequent Usage
- Majority of Expedited Payments Made Directly with Billers
- Pricing is Highly Dependent on Economic Factors
- Bring Expedited Payments into the Mainstream Through the Online
Bill-Payment Venue
- Expedited Bill Payments Users Save Substantially on Late Fees
- Mid-Range Fees are Predominant: The Case for Price Increases
- The Importance of Channel Availability: Phone-Based Expedited Payments
Re-Emerge
- Mobile Bankers Use Expedited Payments More Frequently
- Certain Age Groups may be Poised for Mobile Channel Growth
- Prolonged Economic Struggles Mean Lower Consumer Savings
- Appendices: Additional Consumer Information
- Generational Usage of Expedited Payments Shows Minimal Differences
- Middle-Income and Higher-Income Consumers use Expedited Payments more
Frequently
- Younger Consumers Show Slightly Higher Propensity to use Expedited Payments
- Spike Among More Affluent Consumers for Recent Expedited Payments Usage
- Spike for Consumers Aged 25-44 in Avoiding Higher Late Fees
- Lower-Income Consumers Avoid Smaller Late Fees
- Affluent Consumers Pay Lower Fees for Expedited Payments
- Related Research
- Companies Mentioned
Table of Figures
- Figure 1: Consumer Usage of Expedited Payments 2005-2008 8
- Figure 2: Overall Consumer Expedited Payments Expenditures 2005-2013 9
- Figure 3: Household Usage of Expedited Payments 2005-2013 11
- Figure 4: Usage, Spending and Savings in an Improved Economy 2008-2013 12
- Figure 5: Usage, Spending and Savings in a Struggling Economy 2008-2013 13
- Figure 6: Frequency of Usage for Expedited Payments 2005-2008 14
- Figure 7: Frequency of Usage for Expedited Payments by Age 15
- Figure 8: Venue for Expedited Bill Payment Among Consumers 16
- Figure 9: Mean Pricing for Expedited Payments in Struggling and Recovering
Economies through 2013 18
- Figure 10: Screen Shot of ORCC Solution Implemented at Silver State
Schools Credit Union 19
- Figure 11: Late Fees Avoided for Expedited Payments 2005-2008 20
- Figure 12: Consumer Fees for Expedited Payments 2005-2008 21
- Figure 13: Consumer Channel Selection for Expedited Payments 22
- Figure 14: Frequency of Usage Among Various Behavior Groups 23
- Figure 15: Consumer Channel Selection for Expedited Payments by Age 25
- Figure 16: Consumer Savings with Expedited Payments vs. Late Fees
2005-2013 26
- Figure 17: Consumer Usage of Expedited Payments by Generation 27
- Figure 18: Frequency of Expedited Payments Usage by Income 28
- Figure 19: Consumer Usage of Expedited Payments by Age 29
- Figure 20: Consumer Usage of Expedited Payments by Income 30
- Figure 21: Late Fees Avoided by Expedited Payments by Age 31
- Figure 22: Late Fees Avoided by Expedited Payments by Income 32
- Figure 23: Fees Paid for Expedited Payments by Income
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