Online Bill Payment and Conservation

             The Internet has presented us with many options for managing our
             lives and finances. Online bill paying has become a convenient way for
             people to pay their bills while conserving the environment. The purpose of
             this discussion is to examine how online bill paying helps the world's
             attempt to conserve. Our discussion will focus on how online bill paying
             conserves the use of paper products. In addition, we will discuss the
             challenges 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
             In other words, online bill pay allows consumers to view their bills
             and pay them online. The consumer can pay bills using a checking account
             or a credit card. They can also make inquiries concerning their accounts
             Many large banks have embraced online bill paying as a part of their
             overall business strategy. Among the leaders in Online bill pay is Bank of
             America. 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. In fact, BofA has experienced a 112% growth in
             bill pay service use since last year, notes Stephanie Smith, seni...

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