Environmental concerns key to increase in online bill payment adoption in US – study

Thus, 58 percent of survey respondents who already receive e-bills state that the environmental impact was either important or very important in their decision to view and pay bills online, up from 51 percent last year. According to the survey, 24 percent of consumers who pay bills online also receive at least one bill online each month, up from 22 percent last year.

Consumers also cite convenience and clutter reduction as reasons to receive their bills online. Among the inconveniences consumers indicate as having played a part in their decision to switch to e-billing are losing a paper bill in the mail (57 percent of interviewees) and losing a paper bill in their own home (64 percent).

Moreover, online bill payment emerges as a significant channel for banks to ensure customer loyalty. The research highlights the fact that consumers who pay bills online at a bank website are more likely to continue banking with their bank, as well as encourage others to join their bank. According to the survey, 49 percent of consumers who use online bill payment facilities say they are less likely to switch banks due to their experience, up from 43 percent last year. Also, 67 percent of online bill pay users would recommend their bank to a friend or relative. Finally, over a three-month interval, 38 percent of online bill pay users recommended the service to others. Those recommending the service did so an average of two times.

The survey was carried out by The Marketing Workshop and Harris Interactive and was commissioned by information management and electronic commerce systems provider for the financial services industry Fiserv.