Help members overcome online bill pay fears

One in 23 people suffer from phobias of one type or another. Arachnophobia, the fear of spiders, is the most common, with 48% of women and 12% of men fearing the 8 legged, sometimes venomous creature. But for those members who suffer from Technophobia, or the fear of technology, adopting your online bill pay could be a real problem to the success of your internet banking strategy. Here are some ideas to soothe the anxieties that online bill pay and mobile bill pay may cause some of your worrisome members:

Assure them online bill pay is safe

Mobile and Internet banking systems are built with security as a top, critical priority, with various forms of encryption to exchange data with their credit unions core software and the member’s internet browser or smartphone. Additionally, assure your members you have the tools in place to monitor usage and regularly scan for suspicious activity, blocking access to accounts and providing security notifications as well as security questions when signing in from a new device. Discuss with them that the argument can be made that paying bills electronically is actually more secure than sending payments through the mail.  According to the Equifax credit bureau, two-thirds of identity thefts start with lost or stolen mail, Social Security cards, checkbooks, bank statements or similar documents. Online bill paying doesn’t carry these risks, because there is no paper document to fall into the wrong hands.

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