Statistics, Facts & Such

In a survey covering 2,800 households, 63% of respondents said they felt it is more "reliable and secure" to send bill payments by mail than on-line, the market research firm reported. Even more - 74% - said they like the "privacy" of paying with paper checks, and 72% preferred the "convenience" of that method.
PSI Global, Tampa, FL Survey

Almost 50% of all households in the United States have personal computers. Experts say they still believe that up to 15% of U.S. households will immediately adopt electronic bill payment when it becomes more widely available.
PSI Global Research, Tampa, FL

By the year 2002, 25 % of all U.S. households will have the ability to view and pay at least eight monthly bills online, and more than half of all U.S. households will be able to view and pay as many as four bills online.
Internet Research Group, AOL Online

The average cost of digital fraud is $1.25 per transaction. It is expected to fall to $0.25 by 2003 - still far above the estimated $0.02 cost of physical world fraud.
Financial DNA.com/Web research firm, 11/17/99

Checks go through bank item processing sorters faster than 400 miles an hour; 2,500 items per minute. In 1998 there were 64 billion checks a year processed in the United States. According to experts, that number will continue to increase by about 1.3 billion a year.
Frank Abagnale interview

A KPMG Peat Marwick 1998 Fraud Survey found that check fraud at large corporations has almost doubled in the last 4 years.

Copyright © 2000 Bankers' Hotline. Originally appeared in Bankers' Hotline, Vol. 10, No. 1, 1/00