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Infographic: Creative Strategies to Increase Autopay Adoption

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August 18, 2023
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High autopay adoption is the gold standard for ensuring high acceptance and lower delinquency rates. Yet many billers still struggle with adoption. For example, only 16% of nonprime auto borrowers are currently enrolled in autopay.

In PayNearMe’s consumer research efforts, we identified that there were a variety of reasons that customers didn’t sign up for autopay. These fears include:

  • Lack of control over payment dates
  • Enrollment is a hassle
  • Forgetting about an automatic payment and incurring an overdraft fee
  • Reservations about storing payment information online
  • Procrastination

While there are always going to be customers who avoid autopay, incremental increases in adoption can make a big impact for billers—especially in an economic climate that is driving up delinquency rates and defaults.

Learn more in our new infographic, “Creative Strategies to Increase Autopay Adoption“.

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