In what has become an important resource in understanding consumer bill-payment habits, Fiserv has released the results of its fifth annual survey.
Fiserv this year included both online and “offline” (consumers who are infrequent internet users) in the survey and found both types of consumers use a variety of bill payment channels. Offline consumers, however, rely more on walk-in bill payment, paper checks, and pay more late fees.
From Fiserv’s press release:
Infrequent and non-Internet users were more likely to report that they paid late because they had trouble keeping track of their bill, with 25 percent saying this was an issue. This group was also three times more likely to incur late fees because they had difficulty tracking bills, and were three times as likely to report that they lost a bill that came in the mail (19 percent versus 6 percent of online households). Only 7 percent of online households said that trouble keeping track of a bill caused a late payment.
Click here to read more from Fiserv’s press release.