Trends Report

Online Bill Pay 2007: Understanding The Mindset Of Holdouts, Fence-Sitters, And Quitters

December 27th, 2007
Catherine Graeber, null
Catherine Graeber
With contributors:
Carrie Johnson , Emily Bowen

Summary

Just 35% of online consumers pay bills at their bank or credit union's Web site. What about the rest? Citing a preference for check writing and the need for paper bills for record keeping, 71% of non-adopters say they'll never pay bills online. Twenty-three percent of non-adopters plan to pay bills online but just haven't gotten around to it yet, and 6% did pay bills online but quit using the service. But the future adoption picture is not as bleak as it may seem — non-adopters report they could be coaxed into adoption. At the top of their wish list is something any financial firm could easily offer — an online security guarantee.

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