Apacs: Bill payers 'more sophisticated'

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Apacs: Bill payers 'more sophisticated'

Wed 28th Feb 2007

Online and telephone banking systems are increasingly being used by Britons to manage their finances and bill paying, according to new research.

A survey carried out by the UK payments association Apacs shows that between 2000 and 2005, bill payments made in this way trebled to 118.1 million.

The use of cash to make regular payments during the period has also declined, having fallen by 26 per cent.

Age has been found to be an important determining factor in a person's choice of how to make payments, with over two fifths of 25-34-year-olds choosing to pay online.

"People today have more bills coming through the door than ever before, so it's no surprise that many bill-payers are finding more sophisticated payment methods that allow them to be more organised in their repayments, whether it is through online banking or by setting up a direct debit," said Sandra Quinn of Apacs.

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