Firms looking to convert customers to online billing should eschew security and environmental arguments in favour of offering cash incentives, according to a survey for electronic bill presentment and payment (EBPP) outfit OneVu.
The poll, conducted by Research Now, of over 1000 online bankers in the UK who are responsible for paying household and individual bills, shows 31% of respondents rate receiving an incentive or discount as the most likely reason for using an online billing service.
In contrast, just 17% say they would be influenced by a reduction in the risk of identity fraud and only six per cent cite environmental considerations.
However, the most popular reason given for using online billing is the convenience of having everything in one place, selected by 46% of those questioned.
Miles Quitmann, CEO, OneVu, says: "What is interesting is that consumers are increasingly savvy and they understand that organisations can make considerable savings by eliminating paper bills. The research suggests that they feel some of these savings should be passed on to them rather than just the shareholders."
In response to these results, OneVu is running a pilot programme in Spring 2009 offering consumers a chance to win a significant cash prize if they register for the service, which is branded as Bill Manager through Lloyds TSB and Bill Management through RBS and NatWest. This promotion is being run in conjunction with a number of leading water companies who are signed up to the service and cover millions of households across the UK.