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Editorial Viewpoint Stepping Forward |
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Spotlight On First Express Remittance Processing, Inc. |
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Spotlight On GreenPath Debt Solutions |
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COVER STORY New Initiatives Target Faster Payments, Settlement and... |
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NEWS REPORT Marketing Programs Boost Consumer Adoption of... |
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CASE STUDY Custom Accounts-Receivable Solution from First Express... |
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BUSINESS TOOLS Sign Up for MasterCard RPPS Reporting Services... |
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NEWS REPORT Online Biller/Creditor Directory Helps Customers... |
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NEWS REPORT New Processing Service for Collection Agencies Expands MasterCard RPPS... |
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INDUSTRY INSIGHTS Q&A with Catherine Graeber... |
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NEWS REPORT 
Marketing Programs Boost Consumer Adoption of Online Bill Payment |
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| Results Indicate the Value of Enhanced Consumer Awareness | ||||
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Results from three MasterCard RPPS consumer awareness pilot programs clearly demonstrate that raised awareness and the use of incentives can drive consumer adoption of online bill payment services. "We developed our pilot program to quantify the effectiveness of enhanced consumer awareness in moving the adoption needle versus consumer misperceptions of online bill payment," says Jennifer Covello, MasterCard RPPS. Broad success Participating institutions included a credit union and two large banks. In each case, both online banking and offline customers were targeted and tracked separately, and one bank also targeted inactive online bill payers. The pilots offered customers $25 if they signed up for the online bill payment service and paid three bills a month via the service for three consecutive months. "Across the board - whether it was with the online bankers, inactive online bill payers, or offline accountholders - we saw significant lift in enrollment and usage, and in the percentage of customers who fulfilled the conditions to obtain the incentive," says Covello. The two banks' overall percentages for fulfillment were 1.2% and 3.4%, with nearly 2% and 5% of online customers earning the incentive, respectively. The second bank also posted hefty increases among both inactive online (3.5%) and offline customers (1.8%). "Interestingly, the larger percentages for the second bank may in part reflect the impact of a consumer education initiative it conducted prior to the pilot. This institution registered an astonishing enrollment rate of almost 81% among its online customers, and nearly 13% among its offline customers," Covello notes. The credit union posted enrollment rates of 19.8% and 2.7% for online and offline customers, respectively, with fulfillment rates of nearly 12% and 1%. Lessons learned "As we anticipated, a well-focused consumer marketing initiative with repeat communications can move consumers toward adoption," says Covello. The design of the program materials, which was different from the typical marketing communications sent by these three institutions, may have contributed to the program's success. "Perhaps the fresh approach stimulated customers to read the materials," she says. MasterCard RPPS will continue to track activity in the most recent pilot over the next six months to see if the change in consumer behavior continues. As a result of the pilots' initial success, MasterCard RPPS is now evaluating the possibility of creating a turnkey consumer marketing program that our customers could implement on their own. "We invite comment from our customers who are interested in such a program," says Covello. "We encourage all RPPS online bill payment providers to take part in this exciting initiative." 
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