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.

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Remote Deposit Capture Checks Same Day ACH ACH 43

PYMNTS

MARCH 28, 2016

We could kill the check – and the checks rails that exist to support them. Just because checks have existed since at least 13th century Venice and 19 billion of them were used to pay people and businesses in the U.S. Checks, on the other hand, serve no useful purpose. Checks are issued at par. Yeah, right.

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Faster Payments Checks Payments Fed 48

PYMNTS

JULY 24, 2017

Back at home, the Fed, though, did play a big role in propping up the paper check for much of the 20th century. NACHA has implemented ubiquitous Same Day ACH with credit push and will implement phase two with debit pull in the fall. The paper check clearing system is the biggest drag on faster payments in the U.S.

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Fed Faster Payments Ubiquitous Same Day ACH 47