Bill Payment transaction growth in the bill payments arena underscore that this dynamic market is primed for continued expansion. New research estimates that bill payment transactions -- will total 1.7 billion items per year and represent 10% of key US bill payments by 2010. Further estimates that bill payment volume in 2005 will total approximately 554 million transactions. Though bill payments initially gained momentum as a collections tool, pay all biller payments by consumers have become the key driver for this market. According to the recent " 2005 Convenience/One-Time Payment Services Survey," 55% of bill payments in the US are currently ascribed to this "convenience or emergency payments" category. Fully 72% of expedited bill payments carry associated fees to the consumer, offsetting service charges incurred by billers and providing another powerful business driver for this market and merchant business owner.
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