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How “Mobile” is Changing the Payment Landscape for Utilities
Rob Gilpin Sales Director iFactor
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Focused exclusively on communications and mobile solutions for utility companies Top developer of mapping technology, customer communication interfaces and mobile apps in the utility industry Started by utility veterans and invested in client success since 2004 Headquartered in Tempe, AZ
About Us
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iFactor by the Numbers
iFactor delivers information
to
150 million people served by more than
45 utility clients in
39 states and provinces, including
5 of the 10 largest utilities in North America
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iFactor 2014 Year in Review
58,800,000 Total
Self-Service Touch Points!
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A Sampling of our Client Roster
“ “ ” Mobile is not the future, it is the now. Meet your customers in the environment of their choice, not
where it’s convenient for you.
Cyndie Shaffstall, Spider Trainers
“ “ ” Whenever teenage girls and
corporate CEOs covet the same new technology, something extraordinary is happening.
Michael Saylor, The Mobile Wave
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Mobile Channels Reach Customers
• 90% of US adults own a mobile phone, 59% are smartphones
• Mobile phones are the primary source of internet access for many lower income/education customers
• 1 in 4 U.S. homes do not have a landline
• More than 100 million traditional landlines have been disconnected since 2000 Pew Research 2013, iFactor “Trends in Mobile Usage”
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Benefits of Mobile Payments • Immediate 24/7 access • Increase customer satisfaction and convenience • Reduce costs • Reduce inbound calls • Improve collection efforts • Reduce the overall time to collect • Reallocate internal human resources • Take of advantage of current mobile technologies • Prepare a foundation for technologies to come:
• Apple Pay • Google Wallet • PayPal • Pre pay
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$$$ $$$ $$$
Conventional Costs vs. Digital Costs & Convenience
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Customers living in a digital world expect to engage with a digitally enabled utility.
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Current Payment Methods: Native App, Text, Cash, Telephone and E-Mail w/ Secure PDF attachment Future Payment Methods: Google Wallet, Apple Pay, PayPal and ???
Additional Features: Customer Preferences, Real Time Usage, In Home Device Control, Energy Display, Outage Map and Photo Submission
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How Customers are Paying Their Bills is Changing
4% Electronic, phone IVR
48% Electronic
9% All agent-assisted
30% Paper checks, bulk processed
E Source, E Business Survey
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What Residential Customers Use Most
E Source, E Business Survey
Top Utility Customer Service and Information Features Mobile Website/App • View payment and billing options • Check your account balance • View your current bill • View contact information • View your payment history • Make a one-time payment • View a summary of your account information • View your energy usage history • View energy-saving tips • Manage your online account
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61%
Consumer Expectations: Mobile Pay
Chartwell’s 2014 Residential Consumer Survey
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Consumer Expectations: Mobile Pay
Chartwell’s 2014 Residential Consumer Survey
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Source: Chartwell’
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What Transactions are Automated Through Your Utility’s Website?
Source: Chartwell’
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Mobile Users Demand Broad Functionality
Chartwell’s 2014 Residential Consumer Survey
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Many Utilities are Offering Mobile
Chartwell’s 2014 Residential Consumer Survey
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18% Average Increase
2014 / 2013 Chartwell’s 2014 Residential Consumer Survey
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• REG • PAY • BAL • Y or N • HELP
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• Tried, proven, secure and dependable technologies • Always connected / always on • Simple and easy to use • Universal bridging:
• Age, socio economics, banked / unbanked, race and nationality • Multiple touch points within one device • Customers are already making mobile payments with other vendors • Sets the foundation for emerging payment technologies
The next big thing has already happened!
Benefits of Mobile Devices for Payments
Questions?
Alexis Blackstead VP, Electronic Products Western Union
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Western Union® Overview • At the forefront of transmitting information including
payments for more than 160 years
• An industry leader with $5.5 billion in revenue, Western Union continues today to help consumers and businesses send money and bill payments quickly and reliably
• Offers services through more than 500,000 Agent locations in more than 200 countries and territories around the world
Western Union completed
459 million consumer-to-business transactions
242 million consumer-to-consumer transactions
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Western Union Billing & Payment Solutions
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Mobile + Payments = Growth
Millions of mobile payments processed in the past year and growing
Mobile Payments Processed by the Speedpay service
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Overcome Typical Obstacles • Companies’ top challenges in pushing mobile
payment and billing experiences forward are
• Vagueness about mobile strategy
• Lack of IT resources to execute
• Failure to launch!
• Map out the customer experience you want to create and solicit advice from other utilities
Credit: Check Survey
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Have a Clear Mobile Bill Pay Strategy With More Than One Access Point
Consumer Biller Payment Mobile Payment Solution
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Create Usable Products - Make it work
• 74% of app users want easy-to-use apps; 75% think it should do exactly what they want or need it to do3
• Highly intuitive so users can quickly ramp and accomplish their goals–decrease cognitive load and increase productivity. Will lead to higher user loyalty and retention
• Need to be easy to use in the context of a multi-tasking world – mobile users are often doing other things and are surrounded with countless distractions. Interfaces must be focused to hold the attention of mobile users. Sources 3 http://www.effectiveui.com/newsroom/press-releases/11-10-2010.php
It’s not just about building apps and websites; they need to be intelligent and usable
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Mobile Payment in 3 Easy Steps 1. Payment Information 2. Review Payment 3. Payment Confirmation
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Select the Right Partners
• Someone that understands mobile and the utility space
• Track record of successful integrations expertise
• “Build vs. Buy Conundrum” or “Hybrid Approach”
• Avoid multiple apps at all costs
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Sample Integration Process Review Existing Client Configuration
• Speedpay will review:
• The client’s Speedpay version
• Open and future projects
• Existing customizations and business rules
Review Business Requirements and Project Timeline
• Speedpay and iFactor will review requirements
• Speedpay and iFactor will present the timeline to the client
Development and Testing
• Speedpay and iFactor will create a joint test environment
• Client will test app and end to end payment processing
Go live
• App will be deployed
• Payments will be processed along with existing Speedpay payments
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Case Study 1
• Electric utility serves approximately 800,000 customers in the Northeast
• Payment options include: • Autopay • Pay by Phone • Credit card, debit card or electronic funds
transfer • Pay by Mail • In Person • Payment Plans
• Added mobile app payments May 2012
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Payment Results Speedpay Payments by Channel
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Payment Results (cont.)
Mobile Payments by Type
Mobile customers prefer cards High percentage of repeat customers
Mobile Payment Customer
Usage
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Case Study 2
• Electric utility serves approximately 265,000 customers in the Northeast
• Payment options include • Pay Online and Automatic Recurring
Payments • Automatic Draft • Payment Centers • Pay by Mail • Budget Billing
• Added mobile app payments Nov. 2014
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Payment Results Mobile Client’s Speedpay Payments by Channel
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Payment Results (cont.)
41%
Mobile Payments from Repeat Mobile Users
Mobile Payments by Payment Type
Made more than 1 mobile payment
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Alexis Blackstead Vice President, Electronic Products
[email protected] 720-332-3692
http://payments.westernunion.com/
Rob Gilpin Sales Director
[email protected] 251-709-1099
www.ifactorconsulting.com
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