New Study Reveals Rise in Online Bill Paying January 6th, 2009
Regina Hopper

In today’s uncertain economic climate, consumers are increasingly drawn to the convenience and control online bill paying provides.  In fact, a new study conducted by Billeo, Inc., indicates a growing number of consumers prefer not only to pay their bills online, but also to use broadband-powered tools to track, manage and organize their transactions.  Consumers surveyed noted that the ease of tracking online purchases and payments is a key motivator driving their transactions.  To this point, the study revealed that three quarters of consumers who pay bills and shop online save electronic receipts documenting their transactions.

In addition to giving consumers’ greater control over their finances, online bill paying has another upside.  According to Billeo’s survey, more than half of the people who transact online never pay late fees.  Interestingly, the study also found that more than 31 percent of individuals engaging in online transactions are baby boomers, and more than 58 percent are over the age of 45.  Across the board, credit cards rank as the most popular bill paid online, and 47 percent of those surveyed carry no debt on their cards.  Other prominent online transactions included utilities, telephone, cable/satellite television, wireless, and insurance bills.

From providing greater consumer control to delivering green benefits, online bill paying is a positive trend that will only appreciate, and in unprecedented numbers.

This entry was posted on Tuesday, January 6th, 2009 at 2:40 pm and is filed under Benefits of Broadband. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.