Detailed Bill Info Would Lure E-Payers to Bank Sites: Poll

By Wade, Will | American Banker, June 8, 2004 | Go to article overview

Detailed Bill Info Would Lure E-Payers to Bank Sites: Poll


Wade, Will, American Banker


A majority of consumers who pay their bills online use the billers' Web sites -- not a bank's -- but recent research indicates many would prefer to use a bank site if they could get detailed invoice information there.

"It's very interesting how consumers are paying bills," said Cathleen Conforti, a senior vice president at MasterCard International's Remote Payment & Presentment Service of Purchase, N.Y. In a survey of almost 1,000 people by conducted by Harris Interactive Inc. in February and March, 64% said they pay bills at biller sites, compared with 41% who use their bank sites.

MasterCard sponsored the Harris survey, and its findings support the business case of MasterCard's Remote Payment & Presentment Service, which handles online bill payments for companies that want to offer such services at a consolidated Web site.

Of the respondents who said they use a bank site for bill payment, 73% cited the convenience of a single site as the reason. Ms. Conforti said that figure indicates strong support for the idea of paying multiple bills at a single site, but that many consumers continue to visit various biller sites in search of features, including detailed content, they cannot receive from their banks.

This type of content will not be widely available at U.S. bank sites until 2006, she predicted.

"There are types of bills that people pay at the biller sites, because they want to see the details associated with that bill," Ms. Conforti said. Consumers hope to see paydown information, interest rates, and specific charges on bills for things like telecommunications services, credit cards, and student loans.

Though some banking companies, including Bank of America Corp., Wells Fargo & Co., and NetBank Inc., offer electronic bill presentment services, these e-bills often include only basic details, such as the amount owed and the due date, she said. "Is the optimal solution available now? Not in my opinion, because the consumer can't view" detailed information and pay their bills at a bank site. …

The rest of this article is only available to active members of Questia

Already a member? Log in now.

Notes for this article

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
One moment ...
Default project is now your active project.
Project items

Items saved from this article

This article has been saved
Highlights (0)
Some of your highlights are legacy items.

Highlights saved before July 30, 2012 will not be displayed on their respective source pages.

You can easily re-create the highlights by opening the book page or article, selecting the text, and clicking “Highlight.”

Citations (0)
Some of your citations are legacy items.

Any citation created before July 30, 2012 will labeled as a “Cited page.” New citations will be saved as cited passages, pages or articles.

We also added the ability to view new citations from your projects or the book or article where you created them.

Notes (0)
Bookmarks (0)

You have no saved items from this article

Project items include:
  • Saved book/article
  • Highlights
  • Quotes/citations
  • Notes
  • Bookmarks
Notes
Cite this article

Cited article

Style
Citations are available only to our active members.
Buy instant access to cite pages or passages in MLA, APA and Chicago citation styles.

(Einhorn, 1992, p. 25)

(Einhorn 25)

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited article

Detailed Bill Info Would Lure E-Payers to Bank Sites: Poll
Settings

Settings

Typeface
Text size Smaller Larger Reset View mode
Search within

Search within this article

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

Help
Full screen

matching results for page

    Questia reader help

    How to highlight and cite specific passages

    1. Click or tap the first word you want to select.
    2. Click or tap the last word you want to select, and you’ll see everything in between get selected.
    3. You’ll then get a menu of options like creating a highlight or a citation from that passage of text.

    OK, got it!

    Cited passage

    Style
    Citations are available only to our active members.
    Buy instant access to cite pages or passages in MLA, APA and Chicago citation styles.

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn, 1992, p. 25).

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences."1

    1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

    Cited passage

    Thanks for trying Questia!

    Please continue trying out our research tools, but please note, full functionality is available only to our active members.

    Your work will be lost once you leave this Web page.

    Buy instant access to save your work.

    Already a member? Log in now.

    Author Advanced search

    Oops!

    An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.