Welcome to the experience economy Where customer expectations and demands focus on the actual experience of everyday interactions. While the experience economy has technically been around for over two decades, the focus on convenience, personalization, and speed has accelerated in recent years. Consumers are spending more time than ever before on their mobile devices (nearly four hours every day), assessing every interaction with every business or brand, deciding whether or not it lives up to their interactive, simple, and ease-of-use criteria. They attach this new baseline to every area of consumption—dining out, retail, healthcare, education, fitness, and more. And the data backs up these trends. 80% of consumers cite speed and convenience as top priorities. Personalization impacts consumer purchasing decisions for 80% of consumers. And if an experience isn’t positive? Nearly 60% of consumers won’t recommend a business to a friend or family member. Trends in billing and payment are no different. CONTINUE