Chris Stefanadis, an economist at the Federal Reserve Bank of New York, suggests that lack of co-ordination among industry participants is slowing consumer adoption of electronic bill payment and presentment systems.
The delivery and payment of bills over the Internet could offer many advantages — low processing costs and enhanced marketing opportunities for billers, savings in time and postage for customers. Nevertheless, electronic billing has not found favour with potential users.
In this article, published by the Federal Reserve Bank of New York, Stefanadis suggests that lack of coordination among billers and customers, combined with the high fixed costs of the new technology, may help account for the cool reception.
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