Global provider of financial services Fiserv has developed new elements to engage users of its CheckFree RXP online bill payment system.
Fiserv looked at gaming for the new additions to its payment system. The game inspired elements include a progress bar, tutorial elements, and a gradual introduction for more advanced options. These elements are designed to boost adoption of paying bills online, along with other online banking options.
Today the majority of US households turn to the internet for online banking. However, only 40% of those who use online banking pay their bills online. Fiserv’s study shows the main issue is the initial set up process. Most users who were unsure how to proceed, simply abandoned the set up process. Because of these reasons Fiserv redesigned CheckFree RXP to now have a cleaner, more modern and intuitive user experience implementing the game inspired features.
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“Gamification has proven successful in getting and keeping consumers engaged in an electronic environment. Adapting these principles to financial services and incorporating them into electronic bill payment initiates an intuitive experience that makes the service more compelling to new users, and has significant potential to increase adoption and use of bill pay via online banking,” said Tom Allanson, division president, Electronic Payments, Fiserv.
Results of studies done by Fiserv showed a higher conversion rate from first time users with the newly added gamification elements. The new elements engaged and walked the users through the process, resulting in additional bill payments after the first bill was paid for.