SEATTLE--(BUSINESS WIRE)--doxo, the innovative web and mobile bill pay service, today released findings from its recent study on doxoPLUS, the subscription based service that enables free all-in-one bill payment from a user’s bank account, along with five essential financial protections for $4.99 per month. doxoPLUS arose from customer feedback around the greatest anxieties tied to bill pay, particularly concerns about protecting personal information online, reducing fraud, and saving money on hidden overdraft or late fees. Findings from the study show that 9 in 10 users (89%) said they feel more protected using doxoPLUS, and would rate the product 4.6 stars out of 5, on average.
“doxo aims to empower consumers to improve their financial health and accomplish their financial goals by making it easier than ever to stay on top of bills,” said Jim Kreyenhagen, doxo’s VP of Marketing and Consumer Services. “We heard from our customers that security, credit protection, bank fees, and late payment penalties are major concerns. doxoPLUS delivers on our promise to reduce the stress and hassle of staying on top of bills, helping protect consumers from hidden bill pay costs that can otherwise cost consumers $925 on average each year.”
doxo’s recent study revealed that the majority (75%) of doxoPLUS customers use the service to avoid sharing their payment information across multiple biller websites, followed by those (41%) who wanted credit score and identity theft protection. When asked how they feel about the benefits of the product, doxoPLUS users said:
- 89% feel more protected
- 87% feel more organized and in control
- 85% are less worried about identity theft
- 80% have fewer late fees
- 78% save money on my monthly bills
- 76% feel better about improving their credit score
- 70% have improved their financial health
- 69% have fewer overdrafts at the bank
Statements revealed in the survey indicate an overwhelmingly positive response, with customers experiencing a simplified and more secure bill pay process. The benefits have shown to directly improve doxoPLUS user credit scores and financial health, as well as eliminate anxieties surrounding delivery fees and late fees.
The Five Essential doxoPLUS Bill Pay Protections:
- Private Pay™ Protection: Ensures card and payment account information stays encrypted and secure and is never shared with billers during payments.
- Identity Theft Protection: Includes $1 million of loss-protection for identity theft incidents and identity restoration services.
- Credit Score Protection: Helps consumers improve credit scores with credit score monitoring that is built directly into the bill pay experience.
- Overdraft Protection: Ensures that if a payment ever causes a linked bank account to overdraft, doxo will reimburse any bank overdraft fees incurred.
- Late Fee Protection: Guarantees that if a doxo user ever misses a payment delivery commitment, any late fee that results will be reimbursed.
To learn more, visit: https://www.doxo.com/about/doxoplus/
doxo provides simple, 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 boost household financial health. Through these services, doxo currently serves over six million users who can make payments to over 100,000 local and national businesses, making doxo the largest bill pay directory in the nation. Billers on the network get paid directly, fast and free – and consumers have complete bill pay independence over when and how they pay their bills. doxo expanded its user base by more than 70 percent in the past year and is expanding its team to further accelerate growth and change the bill pay 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.