Details and results available in a white paper at fiserv.com/ebilladoption
Lack of awareness about e-bills, which contain the same information as
paper bills and are delivered through the online banking or company
websites where many consumers already pay their bills, has been a
stumbling block to adoption. According to the 2011
Similarly, E-Bill Introduction utilizes a 90-day introductory period to enable consumers who already pay their bills electronically to experience receiving e-bills at their financial institution firsthand. During this 90-day period the consumer receives an e-bill via online banking and a traditional paper bill in the mail. Following the trial period consumers can opt to continue receiving e-bills and turn off their paper bill, or the e-bill will be discontinued and the consumer will continue to receive a paper bill.
"While electronic bill payment has become a mainstream service, e-bill
usage has lagged, despite the fact that consumers say they are
interested in receiving e-bills," said
A series of pilots of E-bill Introduction, which included more than 395,000 electronic bill payment users at five financial institutions, showed that an introductory period can have a significant impact on e-bill adoption:
Encouraging e-bill adoption and usage is important for financial institutions, as consumers who receive e-bills report being more satisfied and less likely to switch to another institution due to their use of the service. Consumers who receive e-bills have a service satisfaction rate near 90 percent, and 69 percent of recipients cite convenience as a reason they chose to receive e-bills.
"Consumers who receive e-bills value the convenience of receiving and paying their bills in one place," said Lawson. "We believe E-bill Introduction is an ideal way to introduce more consumers to the benefits of e-bills, including one stop bill management, the ability to sign up for reminders, and reduced paper clutter."
E-bill Introduction is a standard feature of CheckFree RXP, available through the more than 3,600 financial institutions that offer the service. CheckFree RXP enables consumers to receive and pay bills online, as well as transfer funds and make expedited payments, at their financial institution website. E-bills for more than 400 common household bills such as utility, mobile phone and credit card bills are available via the service.
More information on the tryvertising concept and the E-Bill Introduction
pilot results is available in the free white paper, Ushering
in the E-Bill Age: Driving Adoption through
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