Online Bill Payment and Conservation
The Internet has presented us with many options for managing ourlives and finances. Online bill paying has become a convenient way forpeople to pay their bills while conserving the environment. The purpose ofthis discussion is to examine how online bill paying helps the world'sattempt to conserve. Our discussion will focus on how online bill payingconserves the use of paper products. In addition, we will discuss thechallenges that online bill paying presents. Let's begin by defining According to an article in the journal, Economic Perspective, the "no longer uses the mail system as a delivery mechanism for bill presentment and payment initiation. Instead, it uses the Internet as a speedier and less expensive delivery infrastructure to present bills electronically. (6) With the percentage of U.S. households with Internet access having increased from 26.2 percent to 41.5 percent between December 1998 and August 2000 (U.S. Department of Commerce, 2000), Internet access to bill presentment and payment options is on
The initial investment in an online bill paying system can becostly, but in the long run many corporations are able to dramatically cutcost. (Ramstack) This decline isnot good news for the USPO but it has contributed some to worldconservation efforts. Allowing consumers topay their bill over the internet eliminates the need to use paper. "(Bielski) The article also insists that other financial institutions arejoining the bandwagon and investing in Online Bill Paying Services. has higher check usage per capita than any other industrialized country. This paper useisn't just in the form of checks but also in the form of invoices andstatements that companies have to send to customers. The ABA Banking Journal reports that, "Bank of America--which made its EBPP free last year and phased in other technical alterations to simplify the user interface--lured some 200 odd billers on board and believes, overall, that sufficient progress is being made. (Marco) Corporations must make aconcerted effort to secure their websites against hackers and other evildoers. Many large banks have embraced online bill paying as a part of theiroverall business strategy. (Marco) Many fear that their identitiescould be stolen and their credit ruined. Someoffer the service free of charge while others charge customers a fee forusing the service. (Bielski)Online Bill Pay and Conservation There are many benefits associated with paying bill on the internet.
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