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Online bill viewing and payment will become the fastest-growing Internet application.

December 4, 2007 | Original Article

Despite a 10-year period of widespread speculation and slower-than-anticipated growth, forecasts are now particularly bright for the Electronic Billing industry. In fact, a recent Jupiter Research report indicated that over the next three years, online bill viewing and payment would become the fastest-growing Internet application.

In 2006, users in more than 50 million households around the world have viewed bills online with those in over 52 million homes having both viewed and paid bills online at least once. This represents a 23-percent compound annual growth rate since 2001 -- rather impressive figures for the industry once considered the Internet's also-ran.

In fact, forecasts suggest that the number of Electronic Billing Presentment and Payment (EBPP) users will increase by 63 percent over the next five years. The industry is gaining ground and fast becoming the presentment and payment method of choice for a growing number of consumers and businesses.

It's no coincidence that as people look for quicker solutions to everyday tasks, the number of subscribers making online payments has actually surpassed that of those enrolling in both presentment and payment solutions. This recent jump is primarily due to the increased number of payors using their online banking sites.

Whether consumer or commercial entity, ebilling offers total control of personal finances and the ability to make electronic payments with ease. Thus, electronic billing solution works on both ends of cyber space. Billers benefit from the ability to provide more options to consumers. It builds customer relations and stickiness, as well as increased cash flow.

Many studies over the years have shown that most customer support calls are related to billing issues. Electronic billing minimizes these calls and offers more of the information often requested of customer service representatives (CSRs). With EBPP, customers are more inclined to pay quickly without the aid of a CSR (News - Alert). In fact, most AutoPay customers will only pay their bills and not even view bill details unless there is a noticeable discrepancy in the monthly charge.

EBPP can eliminate overhead and printed bill production costs and help avoid constant postage increases. Billers recognize reduced bill collection costs by automating the entire payment process, including integration of accounts receivable and billing systems.



Customers using e-bills reported greater satisfaction with their financial institutions.

November 17, 2007 | Original Article

A new SunTrust Bank and CheckFree Corp. study reveals a clear link between electronic billing and payment habits and higher account balances, customer loyalty and profitability.

The study analyzed consumer data from customer households during a 13- month period from February 2006 through February 2007. It found that customers who received and paid at least three e-bills per month at the SunTrust website:


  • Were 86 percent more profitable than offline customers
  • Had a 78 percent lower attrition rate on average
  • Carried 121 percent higher deposit balances than the average SunTrust customer
  • Were twice as likely to have a mortgage and 60 percent more likely to have a savings account with the bank
  • Paid 25 percent more bills online than other customers

The study is the first of its kind to isolate e-bills as a major factor in driving customer retention and profitability based on a matched sample analysis. Conducted by Aspen Marketing Services on behalf of SunTrust and CheckFree Corp., the study builds on previous research findings that customers who use online billing and payment services were more profitable and loyal to their financial institutions. A 2007 Harris Interactive consumer bill payment survey conducted for CheckFree found that consumers using e-bills reported significantly greater satisfaction with their financial institutions and were more likely to recommend a bank's online offerings to friends and family, and 58 percent said they were less likely to switch financial institutions as a result of using e-bills.

"Over the past several years, SunTrust has focused on integrating value- added services like electronic bills to enhance the online banking user experience as part of our broader strategy to differentiate and drive the highest levels of customer satisfaction and retention through the online channel," said Tom Bennett, director of Consumer Deposits and Access Services at SunTrust. "This landmark study shows that there is a strong link among online banking, increased profitability and share of wallet, and there's an even stronger link among e-bills, customer loyalty, profitability and usage of other banking products."

Details of the study, including additional findings, will be formally presented by SunTrust and CheckFree at the Bank Administration Institute (BAI) Retail Delivery Conference on Nov. 15, at 11:15 a.m. in the Expo Solutions Theatre, Mandalay Bay Resort in Las Vegas. A white paper of the study, "The e-Bill Effect: The Impact on Customer Attrition from Banks that Offer e-Bill," will be published by Aspen Marketing Services and available for download at http://www.checkfree.com/whitepapers.

E-bills contain the same information as paper bills but are delivered online rather than via regular mail. Because it offers the ability to securely receive, view and pay multiple bills at a single financial institution's Website, e-billing helps consumers manage household bills in a more organized, secure and convenient fashion. Replacing paper bills with e-bills can also remove sensitive financial records from unsecured mailboxes to help lower the risk of falling victim to identity fraud. E-billing also contributes to environmental conservation by reducing waste and pollutants associated with producing, mailing and transporting paper bills and payments across the country.



"Leaf" Your Paper Bill Behind

November 17, 2007 | Original Article

Con Edison's e*bill program, where customers can receive, view and pay bills online, has jumped 38 percent in the last year with more than 28,000 customers enrolled in the program.

The Con Edison e*bill program is a fast, convenient and environmentallyfriendly payment option. Each month, Con Edison notifies customers via e-mail when bills are ready for viewing. Switching to e*bill is easy. Customers can visit www.conEd.com/ebill to learn how to sign up for e*bill.

As New Yorkers continue to choose options that have less impact on the environment, Con Edison is promoting this program with an incentive for customers to pay their utility bills online without the wasteful use of paper.

Con Edison will donate $1 for every customer who signs up for the e*billprogram to a nonprofit tree planting fund. For customers living in New York City, the company will donate to Trees New York, and for customers living in Westchester County, donations will be sent to Friends of Westchester Parks, Inc.

"This is a prime opportunity for customers to sign up for the e*billprogram," said Marilyn Caselli, senior vice president of Customer Operations. "It's aneasy way to cut down on paper consumption and save trees by opting to receive and pay your bills electronically."

In addition, Con Edison is a member of the Pay It Green Alliance(TM). ThePay It Green Alliance was formed this year to educate consumers about the positive environmental impact of choosing electronic bills, statements and payments over paper alternatives. The Alliance includes leaders in the financial and consumer billing industries. Additional information on the Alliance can be found at www.electronicpayments.org/green.

Recent studies show that if all U.S. households viewed and paid their billselectronically, it would save 18.5 million trees* — avoiding 2.2 billiontons of toxic air pollutants, 1.7 billion pounds of solid waste, and saving 15.8 billion gallons of precious water.

For more information on how to get involved with a tree planting group in New York City and Westchester County log onto www.treesny.com or www.friendsofwestchesterparks.com.

Con Edison is a subsidiary of Consolidated Edison, Inc. (NYSE: ED), one of the nation's largest investor-owned energy companies, with approximately $12billion in annual revenues and $28 billion in assets. The utility provides electric, gasand steam service to more than 3 million customers in New York City and Westchester County, New York. For additional financial, operations and customer service information, visit Con Edison's Web site at www.conEd.com.

* Calculated in 2003 by Javelin Strategy and Research, using information fromEPA, Alliance for Environmental Innovation, USPS, and USFS. Contact: Alfonso Quiroz 212-460-4111 Copyright 2007, Market Wire, All rights reserved.

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