Skip-a-Pay for the Holidays

As the holiday season approaches, retail sales are projected to rise by 3 percent, with e-commerce sales expected to see a 7 to 9 percent increase from November 2024 to January 2025. Despite inflationary pressures, consumers remain eager to embrace holiday celebrations, driving this seasonal growth.

This time of year, consumers may need more flexibility when it comes to directing their dollars—especially in light of inflation and higher prices. For example, funds that are reserved for loan payments might be useful to help make holiday-related purchases. In these situations, some consumers might want to take advantage of a skip-a-payment option for their bill payments.

What is skip-a-payment?

Skip-a-payment allows customers to take a month off from a regularly scheduled bill payment and reserve that money for other purposes. If it is offered by their biller, consumers often need to have their account in good standing to take advantage of this option. This provides them with short-term financial flexibility while keeping their accounts in good order.

How does it work?

Billers typically offer skip-a-payment for a limited time period, such as the end-of-the-year holiday season, assessing a fee for using the service. Instead of making the usual bill payment, accountholders pay the fee and can direct that cash toward other expenditures. The skipped payment is typically tacked on to the end of the loan, thereby extending its life.

Who offers skip-a-payment?

Billers may or may not choose to offer skip-a-payment depending on a variety of factors including the nature of their business, its payments operation, and the types of loans they service. Billers can begin the conversation with their electronic bill presentment and payment (EBPP) solution provider to better understand their options for offering skip-a-payment to their customers.

Offering a skip-a-pay program during the holidays can provide significant benefits to financial institutions. Not only does it give members a flexible option to skip loan payments during a financially demanding time, but it also generates fee-based income for the institution. For example, Alabama Credit Union’s skip-a-pay promotions, facilitated through Alacriti’s Orbipay EBPP, generated $81,000 in fee income. This type of promotion enhances member satisfaction by offering relief during the holidays while simultaneously boosting the institution’s revenue—creating a win-win situation for both the members and the financial institution.

Read more about Alabama Credit Union’s journey here.  


Alacriti’s centralized payment platform, Orbipay Payments Hub, provides innovation opportunities and the ability to make smart routing decisions at the financial institution to meet their individual needs. Financial institutions can take full ownership of their payments and control their evolution with ACH, Wire, TCH’s RTP® network, Visa Direct, and the FedNow® Service, all on one cloud-based platform. To speak with an Alacriti payments expert, please contact us at (908) 791-2916 or info@alacriti.com

Picture of Saman Kazmi

Saman Kazmi

Marketing Associate
Saman Kazmi, a recent graduate from Rutgers Business School with a major in Marketing and Supply Chain Management, began her career at Alacriti three years ago. Her background is unique as she has also owned a small clothing company. She is currently pursuing an MBA to further enhance her expertise. Saman is dedicated to marketing payments technology and contributes by creating marketing content, producing podcasts, and organizing industry events.

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