Progress Energy is extending the use of Fiserv's eBill Distribution to the electric utility's Florida region. The agreement with Progress Energy is an expansion of the existing relationship between Fiserv and the Fortune 500 energy company, which serves customers in the Carolinas and Florida. Fiserv already provides eBill Distribution to Progress Energy customers in the Carolinas, as well as walk-in bill payment services in all three states. Now, Progress Energy customers in the Carolinas and Florida can receive their Progress Energy bill at any of the more than 3,000 financial institution websites in the Fiserv network. According to financial industry analyst firm Javelin Strategy & Research, banks and credit unions represent the fastest-growing channel for viewing and paying bills online, making eBill Distribution a natural complement to offering paperless options at Progress-Energy.com.
eBill Distribution from Fiserv enables companies like Progress Energy to offer paperless electronic bills, commonly known as e-bills. E-bills replicate the same information as the traditional paper bill, but are securely delivered to a financial institution or billing company Website instead of a physical mailbox. Customers who receive e-bills can schedule a specific date on which their bill will be paid and take advantage of features such as email reminders.
According to the same study, 41 percent of current online banking users indicated plans to pay more bills online at their financial institution's Web site in the coming months. Progress Energy's commitment to paperless billing can allow the company to capitalize on this trend and provide customers additional billing options. As a testament to this commitment, Progress Energy Carolinas recently collaborated with Fiserv to educate consumers to turn off their paper bills and begin receiving e-bills through their financial institution. This campaign resulted in a 206 percent e-bill adoption rate increase, and encouraged Progress Energy to extend the bank channel e-bill delivery option to its Florida customers.
Since 2000, Fiserv and Progress Energy together have delivered valuable billing and payment options for Progress Energy customers. In addition to powering Progress Energy's electronic billing and payment channels, Fiserv makes available to all Progress Energy customers the ability to pay bills in-person at more than 16,000 retail agent sites, such as convenience stores, grocery stores, drug stores, and retail shipping and postal stores.