The Future of Checks – Tales From The Crypt
South State Correspondent
OCTOBER 25, 2023
The rise of card-not-present transactions for phone and then e-commerce, starting in 1994, cannibalized check volume, as did Paypal, retail ACH for phone and internet transactions in 1998. As check volumes continue to decline as instant payments take hold and fraud increases, we predict the cost per check will hit over $15 per check by 2026.
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