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The paper check is often called out for its cost burden on businesses, with costs hitting as high as $9 per check, according to analysis from NACHA. 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.
Data from NACHA and the Credit Research Foundation (CRF) found that cards account for just 11 percent of B2B transactions, while accounts receivable professionals expect that figure to grow just 1.5 For all of the discussion of B2B payments’ emulation of the B2C market, however, supplier payments rarely occur via card.
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