Removing Credit Card Fees Improves CSAT
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.
Many of these utilities are members of Chartwell’s Billing and Payment Leadership Council and benefit from sharing experiences and ideas during scheduled monthly discussions.
