Posted by Sarah Jordan

The new 2007 Consumer Bill Payment Survey conducted by Harris Interactive and Marketing Workshop showed that, for the first time, households with Internet connections are paying more bills online (39%) than with paper checks (34%). More than ever before, consumers are realizing the benefits of electronic payments and are considering online bill pay to be a service they demand rather than a nice feature. See full article.

So what does all of this mean to small business owners? In an age where consumers are less brand-conscious a more feature and cost focused, consumers are more likely to pick a service that has the options and flexibility they need—including payment options. Can you accept online payments, set up recurring billing schedules, or directly debit a checking account? If your answer is “no,” you may be falling behind other businesses trying to keep up with consumer demands.

The good news is accepting online payments is a win-win situation for you and your customers. They get to easily and quickly pay from their computers, and all you have to do is watch the money deposit to your account. If you’re a small to medium-sized business owner trying to compete in the marketplace, online bill pay is an easy, inexpensive way to do it.

Popularity: 12% [?]

Technorati Tags: electronic payments, online bill pay, small business, payment options, online payments, recurring billing