PYMNTS

APRIL 10, 2019

While corporates are adopting stronger internal controls to combat the threat of payments fraud, new data from the Association for Financial Professionals (AFP) reveals the number of incidents has continued to climb to new heights. ”

AFP 69

AFP Scams Email Compromise ACH 69

PYMNTS

DECEMBER 31, 2019

We may be present for an historic moment akin to the advent of electric lighting, or at least the leap from DVD to streaming TV: It’s the demise of the much-maligned paper check. Many thousands of SMBs continue to struggle with managing the paper check and postal mail cycle, and it’s not limited to smaller businesses.

Checks 54

Checks Automation RTP Real Time Payments 54

PYMNTS

JULY 25, 2018

The problem is getting worse, according to the Association for Financial Professionals’ (AFP) latest Payments Fraud and Control Survey Report. While 54 percent of those scams involved wire transfers, more than a third targeted check payments. The checks were forged from one of our disbursement accounts.”

Scams 55

Scams Business Email Compromise AFP Wire Transfer 55

PYMNTS

MARCH 2, 2016

There goes one argument for why corporations should ditch the check. 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. For businesses, Checkbook charges just $1 for them to send a check.

Checks 41

Checks AFP Venmo B2B 41

PYMNTS

APRIL 7, 2020

The 2020 Association for Financial Professionals (AFP) Payments Fraud and Control Survey underwritten by JPMorgan found that business email compromise (BEC) was the most noted origin of tried or actual fraud incidents in 2019, according to an announcement. Checks, for their part, have stayed as a top target for actual and attempted fraud.

Business Email Compromise 61

Business Email Compromise Email Compromise AFP Compromise 61

PYMNTS

JANUARY 23, 2018

In the path of FinTech innovation, many expect the inevitable demise of the paper check. But the data doesn’t lie: Paper checks are alive and well, despite efforts to kill it. The latest in PYMNTS’ Kill the Check series , a collaboration with Ingo Money, highlighted the persistence of paper checks.

Remote Deposit Capture 43

Remote Deposit Capture Checks Same Day ACH ACH 43

The Paypers

FEBRUARY 1, 2022

The Association for Financial Professionals (AFP) has conducted a survey on US-based professionals regarding their payments processes and revealed that 92% of organisations still use paper checks.

AFP 28

AFP Checks Payments Process 28

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. One of the largest culprits: paper checks. To his dismay (and to the dismay of businesses across the U.S.),

AFP 40

AFP B2B Business Email Compromise Email Compromise 40

PYMNTS

SEPTEMBER 26, 2016

Using FIS-run PayNetExchange to process ACH, checks and virtual cards and using Comdata to issue Mastercard commercial cards, Corcentric pulls in payment capabilities across a range of rails to support the last mile of the B2B transaction. “It’s key when it comes to the payment process.”

B2B 65

B2B Same Day ACH ACH Commercial Card 65

PYMNTS

APRIL 12, 2019

The Association for Financial Professionals ( AFP ) found that although automated clearing house transactions are generally regarded by CFO.com to be relatively “safer” than other types of transactions — say, paper checks — fraud involving ACH is on the rise.

Business Email Compromise 46

Business Email Compromise AFP ACH Email Compromise 46

PYMNTS

DECEMBER 12, 2017

Paper checks for domestic suppliers, wire transfers for international ones. Most businesses and accountants still rely on antiquated, paper-based methods to manage some stages of their process,” he said in an emailed interview with PYMNTS, pointing to the continuing popularity of checks and wire.

Accounts 44

Accounts Wire Transfer Wires Wire 44

PYMNTS

DECEMBER 12, 2017

1 percent | Rise in the number of paper checks since 2013, according to the Association for Financial Professionals (AFP), which released its 2016 Electronic Payments Survey earlier this year.

Same Day ACH 40

Same Day ACH ACH C2B AFP 40

PYMNTS

OCTOBER 11, 2017

Citing the Association for Financial Professionals (AFP), Reuters reported more than 50 percent of B2B payments made by companies were completed via paper check last year. While consumers have been embracing digital payments, particularly outside of the U.S.,

AFP 46

AFP B2B Digital Payments International Payments 46

PYMNTS

JUNE 14, 2018

In an illustration of just how widespread payments fraud can be, consider the 2018 AFP Payments Fraud Survey , underwritten by JPMorgan, which a few weeks ago found that such activity hit a new high last year.

AFP 41

AFP Accounts Wire Wires 41

PYMNTS

JANUARY 1, 2021

“The IRS is ready to deal with direct deposit if you have a regular bank account, and they are ready to deal with paper checks, [but] they are not used to dealing with [more] payment methods on a widespread scale,” said Linda Jun , senior policy counsel for the AFP. “I

Economy 103

Economy Online and Mobile Banking Credit Union Money Laundering 103

PYMNTS

OCTOBER 5, 2020

81 percent is the share of business owners who experienced payments fraud in 2019, according to a JPMorgan Chase announcement , citing a recent poll by the Association for Financial Professionals (AFP) and J.P.

Ransomware 54

Ransomware AFP Breach Payments 54

PYMNTS

SEPTEMBER 8, 2016

SunTrust’s “ Developing Strategies for the Electronification of Payments ” report found that the majority of SME companies (57 percent) still make their payments with paper-based processes and paper checks. It’s unclear whether businesses will take their demand for faster electronic payments to action — or when.

Same Day ACH 40

Same Day ACH ACH Payments AFP 40

PYMNTS

SEPTEMBER 17, 2019

The AFP’s report found new lows in corporates’ use of checks for B2B payments, with more than one-third saying they aim to remain current with new payments technologies. FinTechs Move Money To Vendors Faster.

B2B 43

B2B RTP Bankers' Bank Funding Agent 43

PYMNTS

JUNE 8, 2018

Change in payment behavior is not easy, though, and that’s particularly true in B2B commerce, where paper checks remain common. Checks still account for about half of B2B payments in the U.S.,

Finance 55

Finance B2C B2B PayPal 55

PYMNTS

JANUARY 29, 2020

There are still hurdles to virtual card adoption, such as lingering attachment to paper checks. Bottomline Technologies’ recent AFP survey found that 45 percent of AP professionals see integration as the biggest challenge to the adoption of payment and banking innovations.

Consumer 52

Consumer Push-to-Card Card Issuer Automation 52

PYMNTS

FEBRUARY 8, 2018

A 2016 survey by the Association for Financial Professionals (AFP) reports 62 percent of respondents anticipated faster payments would have a somewhat or extremely positive impact. This means faster settlement services for merchant funding and support for large-scale billers to move from paper invoices and checks to digital replacements.

RTP 43

RTP Real Time Payments TCH Faster Payments 43

PYMNTS

NOVEMBER 9, 2017

Separate research released in April by the Association for Financial Professionals in its 2017 AFP Payments Fraud Survey found that corporate payments fraud is now higher than ever, with analysts citing a “dramatic” increase in fraud compared to levels seen in 2015.

Risk Management 43

Risk Management Risk Treasury AFP 43

PYMNTS

OCTOBER 30, 2019

. “While adoption for consumer accounts is enhanced through regulatory drivers, adoption for business accounts is based on market interest,” she stated in her presentation at the Association for Financial Professionals’ AFP 2019 event.

Payment APIs and Integration 41

Payment APIs and Integration Cross-Border Cross-Border Payments Small Business 41

PYMNTS

APRIL 14, 2017

51 percent | Decline in the use of physical checks in B2B transactions. Here are the numbers: 75 percent | Percentage of companies experiencing wire fraud in 2016. 74 percent | Percentage of companies that were tricked by 2016 business email compromise (BEC) scams.

B2B 40

B2B Business Email Compromise Email Compromise Scams 40

PYMNTS

MARCH 24, 2017

Amid the slew of announcements coming out of SAP Ariba Live, mobile capture software company Mitek revealed a new collaboration with the company that enables businesses on the Ariba Network to remotely deposit paper checks into their business accounts. And the way the world of B2B payments works today is very often with paper checks.

Checks 40

Checks FinTech AFP B2B 40

PYMNTS

JANUARY 5, 2017

It seems every year for the past five years or so, B2B payments analysts have pondered the future of the paper check — and tried to predict its demise. Yet every year, new evidence emerges that paper checks continue to dominate the supplier payment space.

Checks 40

Checks B2B AFP Same Day ACH 40

PYMNTS

MARCH 30, 2018

Facebook has announced that it is now “fact-checking” photos and videos in an effort to prevent hoaxes and false news stories from making their way to the site. According to Reuters , the fact-checking began on Wednesday in France with the help of news organization AFP. Shares of Facebook closed up 4.4

Checks 42

Checks AFP Product Accounts 42

Fintech Labs Insights

FEBRUARY 12, 2025

Event details are current at the time of publication, but always check websites for the latest. These are the largest events in the industry geared towards accountants as well as program managers, administrators, and C-Suite execs at both legacy companies and startups. You can easily save $1,000 or more on a pair of tickets.

Accounts 12

Accounts AFP NOV Cybersecurity 12

Fintech Labs Insights

FEBRUARY 11, 2025

Event details are current at the time of publication, but always check websites for the latest. These are the largest events in the industry geared towards accountants as well as program managers, administrators, and C-Suite execs at both legacy companies and startups. You can easily save $1,000 or more on a pair of tickets.

Accounts 12

Accounts AFP NOV Credit Union 12

PYMNTS

APRIL 10, 2017

corporations were hit with payment fraud than ever before, according to the Association for Financial Professionals (AFP). The AFP’s newest report found 75 percent of companies fell victim to payments fraud in 2016, up from 71 percent in 2015. Corporate payments fraud , marking 2016 as the year in which more U.S.

AFP 40

AFP Small Business Email Compromise Federal Reserve 40

PYMNTS

AUGUST 10, 2018

With that in mind, the company announced in March that it is now “fact-checking” photos and videos in an effort to prevent hoaxes and false news stories from making their way to the site. The fact-checking launched in France with the help of news organization AFP.

AFP 40

AFP Finance Blocks Checks 40