Consumers who use direct payment like it because they don't have to worry about remembering to pay bills on time. Associated benefits of using direct payment should be quantified. Results can be used to develop a communication strategy to encourage consumers to use direct payment. Not using direct payment is about control. Non-users do not want to relinquish control over when bills are paid or the amount paid.
Financial rewards provide the greatest incentive for respondents to consider using direct payment.
Results of the qualitative research indicate that the local banking community greatly influences target consumers general interest in using direct deposit and direct payment. Many respondents say they first learned about direct deposit and direct payment from their bank. These findings have implications regarding the eventual communications campaign that is developed to encourage consumer use of direct deposit and direct payment. In addition to other efforts the FRB may be considering, Shugoll Research suggests the FRB approach the Bank Marketing Association or the American Banking Association to solicit their support in networking with local banks. The purpose of this support is to educate banks about promoting direct deposit and direct payment among commercial bank customers and the potential profitability of employee accounts as the account relationships are expanded.