Checks will continue to dominate the U.S. payment system for at least the next 10 years, predicts the Check Payment Systems Association in Washington. Despite the growth in volume for check alternatives such as point-of-sale debit cards and ACH, check volumes are growing at a moderate rate of 1-3% annually. The overall growth in non-cash payments has been approximately 5% per year over the past two decades. Since checks are the dominant form of non-cash payment in the U.S., the overall increase in payment volumes has been and will continue to be dominated by the paper checks, even though electronic payment volumesare increasing at double-digit rates.
Special Report: Share Draft & Item Processing
Comments
Resource Center
View All »How Enterprise Software Helps Financial Services Firms Improve Efficiency and Reduce Costs
This white paper describes how enterprise software solutions, when built on a flexible and adaptable technology platform, can help financial services firms streamline workflows, consolidate...
Getting Ready for IFRS
This white paper describes how your company can make the transition to IFRS in a timely and cost efficient manner as well as what your...
