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Putting it All Together: Bill Pay Services for Any Budget

By Jim Bruene on December 2, 1997 2:14 PM | Comments

We’ll go out on our last limb of 1997 and offer up bill payment programs for various sales goals using the $500 per account acquisition cost figure developed on the preceding page. For a modest undertaking, looking to generate an incremental 10 new bill payment/loan accounts per month, we have recommend a serious of non-transactional services costing less than $60,000. On the other end of the spectrum, a bank could spend $1.5 million for a Web-based bill pay program generating 250 new accounts per month. In the chart below, solid boxes indicate recommended features. Unshaded boxes are optional.


Notes:

1.) number of new bill payment/loan customers per month; dollar value assumes $1,000 value per new account generated (see p. 2 for derivation)

2.) can be offset with bill pay monthly, annual or transaction fees

3.) can run on in-house server, though development will likely be contracted to a Web shop

4.) range of fees that could be charged for the service, per month unless indicated otherwise
 

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Categories: Bill payment , Service

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