Big Uptick In Online Bill Paying
comScore, a leading measurer of the digital world, reports that 64% of US internet users now pay at least some of their bills online. This is up a sharp 19 points since one year ago. And 52% use automatic bill pay, up 10 points.
This is good news for US fundraisers, especially use of automatic/recurring bill pay, as it potentially sets the stage for more — and more reliable — monthly giving. And of course it lowers transaction processing costs.
US nonprofits must get their donors into the habit of monthly giving on a far more widespread basis. Last month, in Eat Your Heart Out, America! we reported the huge advantage non-US fundraisers have in this regard.
Why isn’t US online bill paying more prevalent? Here’s what comScore finds:
"Yet even with attractive promotions and a user-friendly online interface, 36 percent of online bankers do not use online bill pay at all. Nearly one-third of the respondents cited worries about the security of these companies’ websites as the main reason why they do not pay bills online. Twenty-two percent still prefer to have the monthly reminder of a paper statement to pay their bills. Reflecting the uncertainty people feel with their personal finances, 14 percent of respondents did not enroll in automatic/recurring bill payment due to a lack of confidence that they would have adequate balances in their account to cover future payments. On a positive note, this uncertainty has significantly dropped from the previous year when 38 percent of respondents cited this as a reason for not enrolling. The top two reasons underscore the notion that consumers are still not quite comfortable with banking entirely online, preferring to closely monitor their bills and to ensure that their money is secure before payments are made."
Tom
Behavioral Science Q & A
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