BOSTON -- Credit unions might like to know that big billers, especially utilities, may be increasingly looking for payment channels other than the traditional online banking site. A recent Aite Group survey of 200 U.S. billers--ranging from those with 50,000 or more bills per month to some with fewer than 10,000--found that "online banking will likely be increasingly challenged by emerging channels in selected verticals." For instance, 47% of the utilities surveyed say they expect to see strong to very strong growth in e-mail payment over the next two years. However, the Think Firm adds, "More billers (41%) expect to see strong growth with online banking bill presentment than with any other channel. Banks should be wary of discouraging small to midsize billers' faith in e-bills; those that have not yet jumped on the e-bill bandwagon should take a fresh look at this capability." Meanwhile, mortgage providers lead the pack in lacking online or other e-bill presentment capabilities.
Biller Survey Finds E-Bill Growth, Mortgage Providers Staying with Paper
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