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Bills Getting Paid Online

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The percentages of electronic bill payment continue to increase. Forrester released numbers on Thursday showing 31% of online households paid bills online in 2004 and that number is expected to increase over the next few years.

The research firm Forrester said by 2010, 52% of online households would pay online and said that’s a five-year increase of 75% from 2005. This will bring the online bill-paying households total to 47 million.

They broke it down by generation, saying Gen-Yers, defined as being born between the years 1976 to 1990, will increase 219% in their rate of electronic bill pay from 2005-2010 and Gen Xers, defined as born between the years of 1964-1975, will increase 52% during that same period. Boomers (1946-1963) were rated at 38% and the study said by 2010, they would make up just 28% of adopters.

These numbers are significant for a number of reasons. A lot of commerce is done online. Bill paying is a big part of that whether it’s the satellite bill or the house payment or anything else. One interesting point though is the generation gap. Boomers, as a rule, have less experience with online technologies and less comfort than many. That’s a major reason for the lower rates. Also, Gen Xers are less comfortable than Gen Yers because most Gen Yers grew surrounded by much of the current technology.

John Stith is a staff writer for WebProNews covering technology and business.

Bills Getting Paid Online
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