Paper or electronic billing: What’s your preference?
Do you prefer paper bills, electronic statements, or both?
On the one hand, there’s a segment of the population that lives exclusively in the digital world. Technology is a trusted companion for activities like streaming media, messaging with friends and family, buying goods and services, and receiving and paying bills. This segment is comfortable using mobile devices and computers to receive electronic statements and pay bills online.
On the other hand, a portion of the population still prefers traditional paper bills and may pay those bills with cash or checks. So-called “double dipping” occurs when customers make electronic payments via their bank accounts or biller websites, but also receive paper statements. Paper bills might be preferred because they provide benefits for recipients including physical reminders, easy archiving, and proof of address.
As the world becomes increasingly digital, why don’t businesses eliminate paper bills once and for all? It’s reasonable to think that most organizations would stand to benefit both financially and operationally if their customers went to 100% electronic bill presentment and payments (EBPP). This is especially true for customers that are already making payments online but still receiving paper statements. Eliminating the choice of paper bills could save companies time and money, while also creating a positive impact on the environment.
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