From the February-27, 2008 issue of Credit Union Times Magazine • Subscribe!
Online Bill Pay Holdouts Large in Number, But Some Could Switch
CAMBRIDGE, Mass. -- Credit unions and banks can still find some growth in the online bill pay channel. According to Forrester Research's North American Technographics Financial Services Online Survey of 4,197 consumers--conducted in the third quarter of 2007--only 35% of online consumers pay bills at their bank or credit union's Web site. Of the holdouts, 71% say they never will, but there are 23% who says they just haven't gotten around to it, and the non-adopters could be persuaded to change their minds with something as simple as an online security guarantee, Forrester found.