Study: Paperless customers are happier customers

Seattle A study released Monday by the electronic payment association NACHA found that there is a direct correlation between customer satisfaction and paperless billing.

According to the PayItGreen Survey 2010, consumers who switch to online-only statements and bill pay report greater satisfaction with their bank and/or credit union. Compared with paperless consumers, those who receive statements by mail are 10% less satisfied or “neutral” about their financial institutions.

“This research makes an important connection between consumers and environmentally friendly behavior -- as paperless billing adoption grows, consumer satisfaction and loyalty will follow suit,” said Eric Leiserson, a founding member of NACHA’s PayItGreen coalition. “The PayItGreen survey also tells us that less clutter, easy access and reduced waste are all motivating consumers to leave paper behind -- a significant observation for the entire payments industry.”

The survey showed adoption trends vary among age groups, as consumers aged 55 to 64 lag farthest behind in paper statement adoption at 20%, and twice as many 25- to 34- year olds have gone paperless.

According to PayItGreen, if 20% of American households switched from paper to electronic bills, statements, and payments, nearly 2 million trees, 151 million lbs. of paper, and more than 100 million gallons of gas would be saved every year.