John Gainer, Executive Vice President at Digital Check was recently quoted in the article, Long Live the Check in The Green Sheet, a financial industry publication. The article, written by Green Sheet Senior Editor, Patti Murphy, focused on the fact that though checks have been steadily declining as a consumer payment mechanism, they have continued to be the payment vehicle of choice by most businesses.
Newer forms of check payments, such as digital checks, as well as newer forms of check capture via mobile apps, along with the increased cost of credit and debit payments have caused the slowing of check usage to decrease. As the economy continues its recovery, remote deposit capture adoption has begun to regain strength as well. All in all, the signs of the check’s demise have traditionally been overstated in the U.S. market. To view the article, click here.