doxo Adds Payment Capability to Address the E-billing Elephant in the Room
SEATTLE, Wash. – February 1, 2011 – doxo, the online place for consumers to get organized and go paperfree, today announced availability of its online payment feature, doxoPAY. doxo allows consumers to receive, manage, file – and now pay their bills – from multiple service providers such as credit cards, utilities, cable, mobile, insurance and mortgages— in one place at doxo.com.
With the launch of the bill payment capability, doxo directly addresses the disconnect between how consumers pay and receive their bills. Today more than 50 percent of all consumer bills are paid electronically, but only 15 percent of bills are actually delivered paperlessly. This “paperless adoption gap” costs businesses billions each year. doxo’s patent-pending approach directly addresses this gap. With doxoPAY, e-payment means paperless 100 percent of the time.
“It’s not just that traditional e-payment approaches haven’t driven strong paperless adoption; they often actually hinder paperless growth” said Steve Shivers, CEO of doxo. “When consumers sit down to pay bills online, most of the time their ‘reminder system’ is the stack of paper bills sitting by their computer. Current e-payment methods in many cases reinforce the customer need for paper mail – with the very segment of customers that would otherwise go paperless.”
doxo makes it much easier for people to directly connect and go paperfree with their providers. Unlike other e-payment solutions, doxo enables customers to connect with multiple businesses in one place to receive and store bills as well as other important documents. By connecting with a business on doxo, the user is granting permission for that business to turn off paper mail and deliver documents securely and privately to their doxo account. With the addition of doxoPAY, doxo users not only receive their documents electronically, but also track due dates and pay bills directly from within doxo.
“Despite online advantages, does anyone feel like they are more organized now than they were 10 to 15 years ago? Most of us still deal with stacks of paper bills, receipts, statements, privacy notices, along with emails, alerts, and the occasional voice message from our service providers. And if we forget to pay someone, the financial consequences can be huge. So, it’s no wonder we decide to keep the paper statements coming to help us remember to pay each bill,” said Jim Bruene of NetBanker in the Online Banking Report. He added, “We think doxo has nailed the user experience. For financial institutions and other billers, consider signing on with doxo to deliver statements and bills.”
For businesses, few good options have been available to drive rapid growth in paperless adoption. Most consumers who use traditional online channels like the company website, or paying bills via their bank, don’t take the critical cost-saving step of turning off paper. doxo provides a new and complimentary channel to these existing online methods, but one that ensures 100 percent paperless adoption.
doxoPAY provides businesses with a much lower payment processing cost than credit cards or other more expensive forms of consumer payment. Adding doxoPAY can significantly reduce the average cost of payment transactions and help speed collections. This allows providers to enjoy bi-directional savings on transactions, both in delivering bills and documents, and now in receiving payment. For businesses already receiving electronic payments, doxoPAY delivers funds consistent with existing payment processes and no new integration effort is typically required. Furthermore, any business with a bank account can now receive payment electronically via doxoPAY. Since providers pay doxo only on a transactional basis per document delivered, they immediately realize a significant savings over the cost of mailing documents and payment processing.
Providers can get more information or enroll online at www.doxo.com/for-providers.
doxo is pioneering the way that people connect and go paperfree with their service providers. doxo provides a free web service that makes it simple for consumers to receive, manage, pay, and file all their bills and other important documents from multiple service providers, all in one place with one password. For businesses, doxo breaks through the barriers to paperless adoption, saving billions of dollars in printing, paper and postage costs, increasing customer engagement, and dramatically reducing environmental waste. doxo investors include top-tier venture firms Mohr Davidow Ventures and Bezos Expeditions, the venture investment fund of Jeff Bezos. The company is led by experienced leaders from Qpass, Amazon, Snapfish, Blue Nile and Microsoft, who have driven consumer adoption of new online services and processed billions of dollars in consumer mobile and Internet transactions. doxo is headquartered in Seattle, Washington. More information can be found at www.doxo.com.
simply organized ™. simply paperfree™. simply doxo™.