We live in an on-demand age where information can be received in an instant by pressing a few keys on a mobile device. So if you assumed that most people now prefer receiving their credit card statement online nobody would fault you for your logic.
And yet, a recent survey from CreditCards.com reported that 93 million credit card holders receive paper statements and for 43 million of those, that is their preferred choice. Not only that, 50 percent of those receiving paper statements indicated that they would even be willing to pay to continue to receive paper statements if necessary.
In this digital age, why are so many people opting for paper? Of those surveyed, 80 percent of those who receive paper statements said that they use the printed statement for record keeping and 74 percent indicated that the tangible paper statement reminds them to make a payment.
The survey went on to reveal that 67 percent of those receiving the physical statement use it for informational purposes to let them know how much they owe and 50 percent said that they do in fact pay their bills by check using the enclosed return mail envelope. Further, more than 25 percent of those receiving paper statements reported that they do not have regular internet access.
Are you primarily sending electronic statements to your customers or do you still send printed statements?