With the emergence of the internet and its technologies, daily life has changed drastically. This trend has brought along an increase in the number of electronic payments made, as more businesses, such as short term lenders, and consumers are realizing the advantages and ease the new purchasing method offers. According to recent research from The World Bank, governments and organizations can save money by offering an electronic payments option. The estimated amount of total savings is approximately 75 percent, as e-payments cut administrative costs and other unnecessary expenses. World Bank officials state residents see the benefits by the facilitation of the payment process, and organizations that adopt electronic systems experience a decrease in costs. This can allow companies the chance to better collect owed amounts from consumers. Electronic payments are fast on the rise among consumers, reports eWeek. Recent research by IDC Financial Insights revealed that more than 33 percent of Americans have used a form of electronic payment, with more than half of that number saying they used the method to pay a bill.