E-Commerce Times Talkback

Re: Despite Rise in Electronic Payments, Checks Are Still Main Cash Alternative
Posted by: Patricia Sabatini 2001-11-18 14:06:06

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Americans are writing fewer checks in favor of making electronic payments, although
checks persist as the dominant alternative to cash, according to a new study by the
Federal Reserve. The study, the Fed's first in-depth look at the nation's retail
payment system in more than 20 years, found that consumers and businesses last year
wrote nearly 50 billion checks, compared with 30 billion payments made electronically.

Re: Despite Rise in Electronic Payments, Checks Are Still Main Cash Alte
Posted by: Marvin George 2001-11-18 14:14:56 In reply to: Patricia Sabatini

I live in a small town and the pressure is to use a check card. I was in LA last year and they would not accept checks, plastic or cash. There is payment over the web site for different merchants. This for GMAC Mortgage and others you can make electronic payment which is ach transaction. You save the stamp and the check. Since the merchants are not charging for the service, people are going to it. When you call it in there was 10 or so charge for the service. With the Internet this will happen more and more. They just started the function basically this at a number of web sites. This should bring down to nothing within 5 years.