Santa Clara, Calif. — In an effort to retain some financial control in uncertain economic times, consumers are using tools to stay on top of bill payments. Billeo Inc. conducted a 2008 customer behavior study focusing on online bill payment trends. The results show that consumers are utilizing free online tools to track, manage and organize their transactions—insurance transactions included. Three-quarters of those who pay bills and shop online save electronic receipts of their transactions and identified ease of “tracking online purchases and payments” as a top motivator.
“The most important thing we glean from this study is that a growing number of consumers are not only more comfortable doing a variety of transactions online, but they prefer it,” says Murali Subbarao, founder and CEO of Billeo Inc. “We believe that the new economic situation will make them more savvy about how and when they spend their money and how they manage and store their online shopping and bill payment information. In uncertain times, they have the ability to exercise more control over how and when they pay bills, as well as how they track and evaluate expenses. To stay in control, consumers simply need to have some very basic online tools.”
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