From http://ow.ly/yVVA 11/3/2009 ….
Consumers will soon be hitting the stores en masse in search of the perfect holiday gifts. And when it comes time to pay the bills for all that joy and cheer, fewer shoppers will be reaching for their checkbook, an envelope and a book of stamps. That’s because the share of American adults who say they “always” pay their bills online has grown by 40% in the past two years. As of mid-September, 14% of Americans said that they “always” pay their bills online, up from 10% who said the same in mid-September 2007.
With credit card companies finding way to increase revenues, expect e-banking to be one of the ways to increase their revenues [Credit card issuers fight for more profit (11.03.2009)]. Other observations:
- This also means less use of checks, which means decrease revenues for the Feds, particularly the Federal Reserve.
- Greener prospective. This is very likely to be related to less paper-use, which is not good for the postal service.
- Interesting to know how many opted for automated payment.
- Be careful when you change your financial institutions. When you are no longer with the bank that you had been used to associate with e-payment, you may get charged if you forgot to change the bank details to the new one.
