Bill pay, a staple of many credit union online banking sites, will be declining and even obsolete within five years, according to Terence Roche of Cornerstone Advisors, the Arizona-based consultants to credit unions and community banks.

Roche made that argument in a recent blog entry and subsequent interview with CU Times. "I don't mean to say bill pay will necessarily disappear in five years, only to point out how uncompetitive it is," he said.

Roche built his case on three foundations: The cost of bill pay relative to other payment strategies, the smaller volumes represented by bill pay, and the growing number of less expensive and easy alternatives.

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