Credit card fees are one of the most significant pain points for utility customers.
Chartwell’s Billing & Payment Leadership Council has discussed the clear link between fee-free credit card payments and customer satisfaction, customer loyalty and the perception of ease of doing business.
In addition to overwhelming customer interest in fee-free card payments, those who currently pay their bill using a credit card without a fee felt 12% more loyal to their utility and 5% more satisfied.
Because of these clear links, many utilities are looking into options to reduce or remove the fees altogether.
According to Chartwell’s recent audit, 23% of the largest 146 utilities in the US and Canada have removed credit card fees for residential customers.