January 07, 2003

Consumers from affluent families are far more likely to use electronic bill presentment & payment (EBPP) than those from non-affluent families, according to a survey of 1,000 consumers by Collective Dynamics, an Atlanta-based consulting firm.

Sixteen percent of respondents use EBPP. Of that total, 65 percent obtain their service from a bank, and 30 percent from a portal. Almost 75 percent of EBPP users come from households with incomes over $40,000 per year. At the $80,000 income level, EBPP users outnumber non-users two-to-one.

Thirty-eight percent of EBPP users said they would be less likely to change banks, versus 24 percent of non-EBPP users. EBPP users are also frequent visitors to the Web site of their financial institution-35 percent visit their bank or credit union Web site daily and 41% visit weekly.

The purpose of the study, which was done in collaboration with CheckFree, U.S. Bank and Visa, was to better understand the business drivers surrounding EBPP.