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Article: Issuers Mulling Paperless Statements as Cost Measure.(Cards)
- Article from:
- American Banker
- Article date:
- September 22, 2009
- Author:
CopyrightCOPYRIGHT 2009 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Kate Fitzgerald
Facing rising printing and postage costs, credit card issuers are taking a tough look at the practice of mailing paper statements to customers every month.
Though very few issuers are actually pulling back, and they are wary of consumer backlash if they do, analysts expect several issuers to eliminate paper statements within the next few years.
The likely steps will involve rolling out new card products that offer only online bill payment, experts say, as issuers try to shift customers to electronic statements. And people who continue to demand paper statements may eventually be charged a fee for the service.
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