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Journal Article
The use of checks and other noncash payment instruments in the United States
Statistical estimates indicate that the use of checks in the United States has been declining since the mid-1990s, even as the population and the level of economic activity have been increasing. In contrast, the use of electronic payments has been growing at high and accelerating rates. Nonetheless, the paper check remains the predominant means of making retail payments and will likely continue to play a significant role in the U.S. payment system for the foreseeable future. The number and value of checks paid varies across depository institutions according to type, size, and location, in ...
Journal Article
Trends in the use of payment instruments in the United States
In 2003, for the first time, the number of electronic payments in the United States exceeded the number of check payments--a result of substantial growth in electronic payments (especially by debit card) and a decline in check payments. The shift toward electronic payments suggests that, as with other large economies, many payments formerly made by check are now being made with electronic payment instruments. As in past years, however, the value of checks far exceeded the value of commonly used electronic payments. ; Comparisons among groups of depository institutions of different types and ...