doxo launches free bill payment to 100,000 billers coast to coast
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The country’s largest consumer bill payment network eliminates payment transaction fees and provides a real-time balance from any linked bank account, simplifying payment to over 100,000 billers across the country, the all with one connection
SEATTLE – (BUSINESS WIRE) – doxo, the innovative, all-in-one web and mobile bill payment service, today announced that it has extended the benefits of its simple and secure bill payment experience by introducing free bill payments to over 100,000 billers across the United States from an account linked to one of over 11,000 banks and credit unions. The doxo app offers users a secure and consistent way to organize and pay all their bills with a single connection, on any device, using any payment method they need: bank account, credit card, debit card, or Apple Pay. Now when consumers link their bank account to their doxo account, they can not only manage due dates and track their bank balance in real time, but they can also eliminate the online transaction fees often encountered when paying for money. certain types of invoices.
Free payments from linked bank accounts, with real-time balance verification, further expand the essential financial health benefits of the doxo bill payment experience, providing the easiest, safest, and least way. expensive to pay any biller on the largest consumer bill payment network. in the countryside. Payment fees cost consumers billions of dollars a year. For example, according to a recent American Public Power Association survey, 37% of utility companies charge customer transaction fees, typically in the range of $ 3 to $ 4 per transaction. At the high end of the spectrum, that can add up to nearly $ 48 per year – a steep price to pay on top of the estimated $ 2,956 that consumers pay on utility bills each year. By eliminating these and other hidden costs associated with paying bills, doxo helps consumers avoid unnecessary charges and maintain control over household finances.
“At doxo, our mission is to reduce anxiety related to invoice management and enable our users to improve their financial health. We’re making bill paying simpler, more accessible and eliminating the hidden costs of the conventional bill payment experience, ”said CEO and co-founder Steve Shivers. “Customer-centric bill payment benefits everyone involved: Customers find it easier to stay ahead of bill payments and improve household financial health, billers see payments faster and lower support costs, and financial institutions strengthen and extend their customer relationships and reduce customer support incidents. ”
Too Often Managing Invoices Means Hassle and Anxiety for Consumers
Each year, American households spend more than $ 4.4 trillion, or about a third of all consumer spending, on recurring bill payments. While keeping those bills under control is the primary determinant of consumers’ financial health, organizing and paying them can be a long and frustrating chore. With the average household paying 10 bills a month, it’s no surprise that managing household finances is the number one cause of stress for consumers. This anxiety has only intensified during the COVID-19 pandemic with 75% of consumers saying they continue to be very worried about the future of their financial health and their ability to stay on top of consumer bills. households. In addition to the stress of paying bills, the hidden costs associated with paying bills lead to additional expense and angst for many consumers – identity theft, payment account fraud, late fees. , overdraft fees and adverse credit effects amount to $ 74 billion, or $ 577 per household per year.
Simplified bill payment starts with all-in-one invoice management, with any payment account, on any device
Since its inception, doxo has been on a mission to simplify and reduce the anxiety of staying on top of bills, enabling consumers to improve their financial health. Unlike traditional one-at-a-time bill payment options, millions of doxo users organize and pay all of their bills in one place with a single, secure connection. Users never have to log into different sites or manage different login credentials and accounts for each of their billers. The main benefits of doxo for consumers include:
Linked bank account for free bill payment and maximum transparency
When a doxo user links their bank account to their doxo account, they activate free payments to one of their billers. Equally important, users are adding real-time bank balance checking before every single bill payment to help eliminate overdrafts, which cost consumers more than $ 15 billion each year in bank fees.
Private wallet for secure payments, from any account
Through a single sign-on, doxo users can make payments on any device, using their bank account, credit card, debit card or Apple Pay. And by paying with doxo, every payment benefits from doxo’s Private Payment ™ account protection that facilitates secure delivery of payments without ever disclosing personal payment account information to an individual biller.
Payments anytime on any device, from any location
doxo helps consumers manage their bills when and where they want. Today, over 60% of bills paid on the doxo network come from mobile devices, where consumers can enjoy doxo’s mobile-first user experience, Android and iOS apps, Touch ID security and Face ID, and the convenience of Apple Pay. .
Better bill payment is the cornerstone of household financial health
Following user feedback, doxo discovered that consumers need bill payment flexibility that protects their online identity, secures payment account information, creates credit, and eliminates overdraft and overdraft anxiety. late fee. As a result, doxo introduced doxoPLUS, a subscription-based service that allows free all-in-one bill payment from a user’s bank account, along with the five essential financial protections for $ 4.99 per month. .
The five essential doxoPLUS bill payment protections include:
- Private Pay ™ Protection: Ensures card and payment account information remains encrypted and secure and is never shared with billers during payments.
- Identity theft protection: Includes $ 1 million loss protection for identity theft incidents and identity restoration services.
- Credit Rating Protection: Help consumers improve their credit scores with credit score monitoring that is directly integrated into the bill payment experience.
- Overdraft protection: guarantees that if a payment results in an overdraft on a linked bank account, doxo will reimburse the overdraft charges incurred.
- Late fee protection: ensures that if a doxo user misses a payment delivery commitment, any resulting late fees will be refunded.
The easiest bill payment, powered by the nation’s largest bill payment directory
Doxo’s single, universally accessible bill payment directory pays more than 100,000 service providers across the country. To date, over five million doxo users, in 90% of US ZIP codes, have paid their bills through the doxo payment network in more than 45 different service categories. Through a single sign-on, users have the ability to make payments to the most diverse set of providers in the country, whether it’s a national bank or a local utility company. At six times the size of any consumer bill payment network, doxo’s directory is uniquely representative of how consumers pay their bills across the country.
Better bill payment for consumers generates multiple benefits for billers
When doxo users stay on top of all their bills, billers on the doxo network also benefit. When service providers register directly with the doxo directory, they join thousands of others who receive direct, fast and free electronic payments. Directly connected service providers increase mobile engagement, accelerate payment delivery, reduce customer support costs, and drive adoption of paperless and automatic payment. Each supplier has a real-time dashboard on their market and customer activity, helping them better understand and engage customers across all payment channels. Logging into doxo electronically is simple and works alongside a service provider’s existing bill payment solution to increase customer engagement and transparency. Suppliers can learn more at www.doxo.com/business.
doxo provides simple and secure all-in-one bill payment to any biller, with any payment method, on any device. A doxoPLUS subscription adds free bank payments and five essential financial protections that improve household financial health. Through these services, doxo currently serves over five million paying users who can make payments to over 100,000 local and national businesses, making doxo the largest bill payment directory in the country. Network billers get paid directly, quickly and free of charge – and consumers are completely independent of when and how to pay their bills. doxo has grown its user base by over 70% over the past year and is expanding its team to further accelerate growth and change the bill payment landscape to focus on the customer. Doxo investors include MDV, Sigma Partners and Bezos Expeditions. doxo is based in Seattle, WA. For more information, visit www.doxo.com.
Dotted communications for doxo