Electronic bill pay gains popularity
STAMFORD, Conn. - Since the growing anthrax scares, Gartner, Inc., a research and advisory firm, forecasts that by the end of 2001, 32 million Americans will view credit card and other statements online representing a 60% jump from last year. While marketing campaigns emphasizing value added services and convenience played a major role in the increase, since the first reported anthrax scare Gartner clients have reported a 20% increase in electronic bill presentment. A recent Gartner survey finds consumer preferences differ when choosing how to receive and access bills online with more than 48% of consumers visiting their billers' web sites directly, and 24% wanting to receive a consolidated set of bills at their financial institution's Web site. According to Gartner, the number of consumers viewing bills electronically will reach 64 million by year-end 2003.