Building Engagement Through Digital Bill Pay in Small Business Banking
- Date:November 30, 2017
- Author(s):
- Ian Benton
- Jacob Jegher
- Report Details: 16 pages, 7 graphics
- Research Topic(s):
- Small Business Digital Banking & Payments
- Digital Banking
- PAID CONTENT
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Overview
- How many and what type of bills are small business owners responsible for?
- Through which channels to businesses typically pay their bills?
- How do business owners view the strengths and weaknesses of bank vs. biller direct vs. offline channels?
- How can banks encourage businesses with legacy check-heavy practices to pay online?
- What features can banks build around bill payment to encourage engagement and start conversations through online and mobile channels?
Methodology
The small business data in this report are based on information collected in a random-sample panel of 1,000 small and micro businesses in a February 2017 online survey. Javelin defines microbusinesses as those with annual revenue between $100,000 and $1 million and small businesses as those with revenue between $1 million and $10 million.
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