es logo
 
Banks cash in as more bills are paid online

 


Online bill payers are better bill payers.

That's the gist of a new study by ComScore Networks, which examined the bank accounts of thousands of people with online bank access and found that those who pay bills online through their bank have twice the account balances of those who don't and are less likely to bank-hop.

The study comes amid other evidence that paperless bill-paying is hitting its stride and becoming a standard operating procedure for an increasing number of consumers.

"The growth rates aren't showing any (sign) of slowing down," Mike Sinco, director of analytics for ComScore Financial Services Solutions, said in an interview. "Online banking and bill (paying) are two of the fastest-growing activities online. And online bill payers are more attractive demographically. They're younger, have higher incomes, and they're more likely to have broadband Internet access."

Full Article:
CNet News