Fiserv (NASDAQ: FISV), the leading global provider of financial services technology solutions, today announced that Discover Financial Services (NYSE: DFS), one of the largest card issuers in the United States, is now offering electronic bills through the more than 3,000 banks and credit unions in the Fiserv bill payment network.
Cardmembers who pay their Discover bill online at their financial institution website will see an icon notifying them that a paperless, electronic version of their bill is now available at that site, and will be able to sign up for the service immediately.
Paperless electronic bills, commonly known as e-bills, contain all of the same information as traditional paper bills but are delivered to a financial institution website instead of a physical mailbox. E-bills are secure, convenient and clutter-free, enabling consumers to receive and store bills online at the same site where they are paid. E-bill recipients can schedule a specific date on which their bill will be paid and take advantage of features such as email reminders.
"The time is right for companies to expand their customers' billing options with e-bills," said Jardon Bouska, division president, Biller Solutions, Fiserv. "Fiserv research shows that one-third of online bill pay users now receive at least one e-bill, and that consumer interest has increased over the past two years."
According to the 2010 Fiserv Billing Household Survey, e-bill recipients are more satisfied with, and loyal to, both the company that sends the bill and the financial institution where it is received. Thirty-seven percent of those who received e-bills at a financial institution website stated that e-bills improved their relationship with the company from which they received the bill, and 33 percent indicated paperless billing made them less likely to switch to a competitor.