FRAMINGHAM, Mass. - The volume of electronic bills will climb from 1% of all bills in 2000 to 14% by 2004, according to International Data Corp.
By 2004, 40% of U.S. banks with $3 billion to $9 billion of assets will offer electronic bill payment and presentment, the company says. Among banks with more assets, the percentage will rise more dramatically. "As more banks offer online services and the adoption of online banking grows, banks will need to offer electronic bill presentment and payment to remain competitive," said Ian Rubin, director of IDC's e-business advisory research.
