Checks have become so marginal that the Federal Reserve’s Survey of Consumer Payment Choice relegates them to a category of “other,” which, along with prepaid cards and money orders accounted for less than 9 percent of all payments in 2022. But checks aren’t entirely dead, with 11.2 billion still written in the U.S. in 2021. Meanwhile, their use by criminals as a vector of fraud has shot up. Which raises the question: The paper check won’t die. Is it time to kill it? This episode of the ABA Banking Journal Podcast — sponsored by Biz2X — sets out to answer that question, with the help of top bankers and experts in the payment space.
This episode is presented by Biz2X.
- If you can’t see the audio player above, click here to listen to this week’s episode.
- Read more in the latest issue of the ABA Banking Journal.
In this episode:
EVP, Cybersecurity and Operational Risk
ABA
President and CEO
First State Bank of St. Charles
SVP, Consumer Compliance and Payments Policy
ABA
SVP, Payments Policy
ABA
Chief Innovation and Strategy Officer
Chesapeake Bank
