Consumer Online Bill Payment Behavior
Revealed in New Study - Billeo
In an Uncertain Economy Consumers are Taking Advantage of Online Financial Transaction
Tools to More Carefully Manage Their Money
SANTA CLARA, Calif.--In an effort to retain some financial control in uncertain economic
times, consumers are using tools to stay on top of bill payments. Billeo, Inc., the company that
gives consumers unprecedented choice, control and convenience when paying bills online,
conducted a 2008 customer behavior study focusing on online bill payment trends. The results
show that consumers are utilizing free online tools to track, manage and organize their
transactions. Three quarters of those who pay bills and shop online save electronic receipts of
their transactions and identified ease of “tracking online purchases and payments” as a top
“The most important thing we glean from this study is that a growing number of consumers are
not only more comfortable doing a variety of transactions online, but they prefer it,” said Murali
Subbarao, founder & CEO of Billeo, Inc. “We believe that the new economic situation will make
them more savvy about how and when they spend their money and how they manage and store
their online shopping and bill payment information. In uncertain times, they have the ability to
exercise more control over how and when they pay bills, as well as how they track and evaluate
expenses. To stay in control, consumers simply need to have some very basic online tools.”
Billeo’s survey revealed that more than half of people who transact online never pay late fees.
The study found that more than 31 percent of those who transact online are baby boomers, and
more than 58 percent are over the age of 45. The study also showed that more than 56 percent of
those who transact online have attended college with more than half acquiring a graduate degree.
In terms of credit cards, 90 percent have credit cards and 47 percent carry no debt on their cards.
“Currently, more than