Stay Informed with CUTimes

Thanks for subscribing, you will start receiving the Daily News Alert tomorrow!

From the July-04, 2007 issue of Credit Union Times Magazine • Subscribe!

Survey Shows Correlation Between Online Banking, Shopping

WILMINGTON, Del. -- Online shoppers tend to be online bankers who pay
bills online and value security when doing all this e-commerce activity, according
to a new survey.
MODASolutions, a provider of e-payment solutions that connect merchants with credit unions and banks, commissioned the survey of 1,077 e-commerce shoppers more than 20 years old.
It found that 80% of the respondents say "a safe and secure online payment option" was the most important factor in their online shopping, and that 76% were interested in using such a channel to pay for online purchases through their online bank accounts.
The March survey also found that the average amount that online bankers spent on online shopping in the past six months was $1,060, while heavy bill payers spent $1,423 during the same period.
The survey also found that an estimated 50% of the U.S. online buyer population made at least one online bill payment in the past six months at their primary financial institution or bill pay portal.
"Consumers are now more comfortable and tech savvy enough to shop online in addition to paying bills and transferring funds," says Jim Okamura, the senior partner with J.C. Williams Group who conducted the survey.
"And as more consumers regularly engage in both online banking and e-commerce we expect this intersection to continue growing, with profitable results," Okamura says.
Comments

More News

Resource Center

View All »

Measure and Monitor the Risks and Opportunities in Loan Portfolios

Get a complimentary demo of our loan portfolio analytics and access to the white paper,...

CUT Daily eNews

Credit Union Times delivers breaking news and information you need to make the right decision for your organization - FREE. Sign up now!

Career Listings
Recent Career Listings
Browse Career Listings

Advertisement. Closing in 15 seconds.