PYMNTS

SEPTEMBER 21, 2016

Same Day ACH is ready for its debut at the end of the week, and for some, its launch signals the next step for the payments industry to become faster and more digital. But a new report finds that, even as Same Day ACH is fast-approaching, businesses are actually increasing their use of paper checks.

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PYMNTS

DECEMBER 12, 2017

2 million | Number of Same Day ACH transactions made in the first 11 days of Same Day ACH’s availability, according to NACHA’s statistics. Those statistics also stated more than 178,000 Same Day ACH transactions were made per day, accounting for a total of approximately $1.5 The firm has raised roughly $450 million to date.

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Evolve Payment

FEBRUARY 15, 2024

An industry survey by the Association for Financial Professionals (AFP) found that check usage for business-to-business (B2B) payments declined to an all-time low of 33% in 2022. Over half of all AFP survey respondents considered speed the most important factor when choosing a payment method.

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B2B Checks AFP FinTech 81

PYMNTS

APRIL 14, 2017

The Association for Financial Professionals (AFP) came out with some scary statistics this month: B2B payments fraud is not only on the rise, but at its highest levels ever since the AFP began recording this information. But there are other ways the AFP found businesses are exposed to payments fraud, most notably through the BEC scam.

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PYMNTS

MARCH 2, 2016

Reports by TechCrunch cite a cost of between $7 and $16 for businesses to send a check, according to research in the AFP Payment Cost Benchmarking Report by Aberdeen Group and Bank of America. Researchers found that, in 2013, $30 trillion worth of checks were sent between businesses; it cost those companies $25 billion a year, however.

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Checks AFP Venmo B2B 41

PYMNTS

DECEMBER 12, 2017

The Association for Financial Professionals (AFP) released its 2016 Electronic Payments Survey earlier this year and found that use of paper checks in B2B payments actually rose 1 percent compared to 2013 levels. About 44 percent of payments received are in the form of a paper check too, the report noted.

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PYMNTS

JANUARY 5, 2017

The research, also published by the AFP for its 2016 Electronic Payments Survey , found a 1 percent increase in the use of paper checks for B2B payments compared to levels seen in 2013. Some financial service providers have reacted to the seeming inability for corporates to let go of paper by giving into demands for check solutions.

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