CheckFree Survey With the Marketing Workshop, Inc. and Harris Interactive Shows Customers Are More Satisfied at Sites Where They
18 Maio 2004 - 11:00AM
PR Newswire (US)
CheckFree Survey With the Marketing Workshop, Inc. and Harris
Interactive Shows Customers Are More Satisfied at Sites Where They
Can View and Pay Multiple Bills Online -- Next Wave of Online Bill
Payment Subscribers Want Financial Control, Are Unhappy with
Current Paper Process -- ATLANTA, May 18 /PRNewswire-FirstCall/ --
CheckFree Corporation today announced the results of a survey
conducted by The Marketing Workshop, Inc. and Harris Interactive
that concluded the most satisfied customers are those who use a
"consolidated" electronic billing and payment service, where they
can pay multiple bills, including electronic bills, from a single
site. These consumers were more favorably disposed toward the
companies that offered these types of services than the
satisfaction levels of consumers paying bills one at a time at
different "biller direct" sites. In fact, more than 50 percent of
those who paid multiple bills from one site indicated that they
were, as a result, less likely to switch to another financial
institution. The survey found that consolidated site users believe
they are better able to manage and organize their finances,
appreciate reminders that help them protect their credit scores by
paying on time, and that the sites save time and hassle. The
Marketing Workshop/Harris Interactive survey of 2,000 consumers,
sponsored by CheckFree, was representative of the online population
of approximately 65 million consumer households in the United
States. The study also identified the next group of potential
subscribers and their characteristics, more than half of whom have
already tried paying one or more bills from a biller direct site.
CheckFree Analytic Research Services is focused on sponsoring
primary and secondary research as a value-added part of its
relationship with its business customers, to help ensure the
success of their programs by providing market leading expertise.
CheckFree conducts research year-round to plan future product
innovations, and to fully understand consumer wants and needs. "As
mainstream consumers continue to adopt personal electronic
commerce, the consolidated model of electronic billing and payment
is proving to be a winner for consumers, billers and financial
institutions. Consumers who use these services report a more
satisfying experience overall when they can receive electronic
bills and make payments to anyone from one site," said Steve Olsen,
executive vice president and general manager, Electronic Commerce
division, CheckFree. "At the same time, these financial services
sites retain valuable customers, and benefit from enhanced overall
satisfaction. The next group of mainstream consumers is slightly
different from current users, and we have studied the mindset of
this group, including the benefits that have the greatest appeal."
Consolidation + CheckFree e-Bill(SM) = More Satisfied Customers
Consumers have several options when choosing to pay bills online.
The consolidated method enables consumers to pay any bill from a
single Web site, such as a bank, brokerage, credit union or
Internet portal. The survey confirmed that consolidated users are
"heavier users" of banking services at financial institutions. A
higher percentage of consolidated users have checking, savings and
money market accounts, and car, personal/student and home equity
loans with these institutions. Consolidated sites increasingly
offer the ability to receive electronic bills online at their
financial services site. Customer satisfaction with both the
financial institution and the online banking service was even
stronger among consumers who were accessing live, data-fed e-Bills
sent by their biller to the financial site to view and pay. * 62
percent of consolidated users with e-Bill are satisfied with their
online banking services, a 15 percent increase over those who do
not use the consolidated service. * 67 percent of consumers who
receive e-Bills rated themselves as "very satisfied" paying bills
via the consolidated method, a 23 percent increase over those who
pay bills at biller direct sites. Why do Consumers Choose an
Electronic Billing and Payment Service? The Marketing
Workshop/Harris Interactive survey examined the reasons people
choose to receive and pay e-Bills at a consolidated site and
determined that the leading benefits are: * Time savings -- 85
percent said that they save time. Saving time was also cited as the
primary reason for receiving and paying e-Bills at one site. *
Convenience -- 83 percent indicated that it is more convenient to
receive e-Bills than paper bills. * Credit rating protection -- 78
percent stated that email notifications remind them to pay the bill
online, which helps protect a consumer's credit score. * Improved
organization -- 75 percent said that paying from one site helps
them to organize their bill payments. Identifying the Next Wave of
Users Today, CheckFree helps more than 13 million consumers pay
bills online from more than 1,200 sites, and delivered 22.5 million
e-Bills in its most recent fiscal quarter. The market is continuing
to grow, with TowerGroup reporting that online banking and
electronic billing and payment will increase rapidly at rates
averaging 15 to 40 percent from 2003 through 2007. This growth
indicates that many consumers will consolidate their bill viewing
and payment behavior as part of online banking. According to The
Marketing Workshop/Harris Interactive, the "Next Wave" of consumers
are those who have indicated a high likelihood of subscribing to an
online bill payment service within the next year. Characteristics
of the Next Wave include: * Seeking to take control of their
finances -- 71 percent say they hate to feel behind when paying
bills. * Sick of buying stamps -- 60 percent don't like purchasing
stamps. * Already using biller direct -- 50 percent of the Next
Wave have tried paying bills online by first paying a bill using
one or more individual biller Web sites. * Wanting to eliminate
hassle -- 45 percent of the Next Wave say they sometimes forget due
dates, and 45 percent do not like writing checks to the same
companies each month. * Dissatisfied with current bill payment
process -- Only 44 percent of the Next Wave are "satisfied" with
the way they currently pay bills. About CheckFree (
http://www.checkfreecorp.com/ ) CheckFree (NASDAQ:CKFR) is the
leading provider of financial electronic commerce services and
products. Founded in 1981 and celebrating its 23rd year in
e-commerce, CheckFree is comprised of three divisions: Electronic
Commerce, Software, and Investment Services. CheckFree launched the
first fully integrated electronic billing and payment solution in
1997. In the quarter ended March 31, 2004, more than 13 million
consumers initiated online payments through services offered by
CheckFree's Electronic Commerce division. Electronic billing and
payment is available through more than a thousand financial
services organizations, including banks, brokerage firms, Internet
portals and personal financial management (PFM) software. At these
sites, consumers are able to electronically receive and pay
essentially all the bills most common to a U.S. household.
CheckFree delivers 22.5 million e-bills each quarter. CheckFree
Investment Services provides a broad range of investment management
services to thousands of financial institutions nationwide. The
division's clients manage nearly 1.5 million portfolios totaling
more than $900 billion in assets. CheckFree's Software division
provides solutions through three operating units: CheckFree ACH
Solutions, CheckFree Financial and Compliance Solutions (CFACS),
and CheckFree i-Solutions. CheckFree ACH Solutions provides
software and services that are used to process more than two-thirds
of the nation's nine billion Automated Clearing House payments,
while CFACS provides reconciliation, financial messaging, workflow
and compliance software and services to more than 600 organizations
in the banking, brokerage, investment management, insurance and
credit card industries, among others. CheckFree i-Solutions is the
leading provider of e- billing and e-statement software and
services for both business-to-consumer and business-to-business
applications. Certain of CheckFree's statements in this press
release are not purely historical, and as such are "forward-looking
statements" within the meaning of the Private Securities Litigation
Reform Act of 1995. These include statements regarding management's
intentions, plans, beliefs, expectations or projections of the
future. Forward-looking statements involve risks and uncertainties,
including without limitation, the various risks inherent in
CheckFree's business, and other risks and uncertainties detailed
from time to time in CheckFree's periodic reports filed with the
Securities and Exchange Commission, including CheckFree's Annual
Report on Form 10-K for the year ended June 30, 2003 (filed
September 15, 2003), Quarterly Report on Form 10-Q for the quarter
ended September 30, 2003 (filed November 13, 2003), Quarterly
Report on Form 10-Q for the quarter ended December 31, 2003 (filed
February 12, 2004), and Quarterly Report on Form 10-Q for the
quarter ended March 31, 2004 (filed May 14, 2004). One or more of
these factors have affected, and could in the future affect
CheckFree's business and financial results in future periods, and
could cause actual results to differ materially from plans and
projections. There can be no assurance that the forward-looking
statements made in this press release will prove to be accurate,
and issuance of such forward-looking statements should not be
regarded as a representation by CheckFree, or any other person,
that the objectives and plans of CheckFree will be achieved. All
forward-looking statements made in this press release are based on
information presently available to management, and CheckFree
assumes no obligation to update any forward-looking statements.
DATASOURCE: CheckFree Corporation CONTACT: Media, Judy DeRango
Wicks, +1-678-375-1595, or , or Investors, Tina Moore,
+1-678-375-1278, or , both of CheckFree Corporation Web site:
http://www.checkfreecorp.com/ Company News On-Call:
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