Most people who do not pay bills online would do so if three fundamental concerns were addressed, according to a survey by a software company.
The small survey 50 people were interviewed of banking customers in New York City was released Friday by Click-n-Done, a vendor of electronic bill presentment and payment software. The company is a subsidiary of Mobius Management Systems Inc. in Rye, N.Y., which sells Web-based software.
Only 7% of respondents said they prefer paying bills by check, and 60% said they would pay bills online if their concerns about it were alleviated.
Thirty-four percent expressed concern about the exposure of personal financial information, 20% about system breakdowns, and 18% about losing money to hackers. The survey suggests that anxieties about EBPP run deep enough to scare off even customers of large banks that have been promoting online services for years.
Joe Pendleton, a retired electronic banker and consultant in Berks County, Pa., said he agrees that many people still perceive paying bills online as risky. Its FUD fear, uncertainty, and doubt, he said. People dont like to change the way they do things.
In reality, he said, however, security fears about online bill payment are largely unfounded. The technology is generally secure, he said, and hacker attacks are almost nonexistent. The biggest problem people are likely to encounter is system glitches that deny access for short periods, he said.
Mr. Pendleton said he hears few complaints from people who, as he does, pay their bills online. The challenge facing banks, he said, is persuading those who shy away to give EBPP a try. He predicted that many companies will encourage people ever more actively to pay their bills online.
Its more of a marketing problem than anything, he said. Its difficult, because you put out a message, and the people who pick up the message most readily are those who are already doing it.
