Resources
See latest resources ยป
US consumers migrate to e-payments

US consumers migrate to e-payments

Source:

The first comprehensive study of the US retail payments system in more than 20 years reveals that consumers are increasingly migrating from paper-based to electronic payment instruments.

According to the new data, cheques have declined from approximately 85 per cent of non-cash payments since the last study in 1979 to about 60 per cent today. Since 1979, the total number of non-cash retail payments has doubled from approximately 37 billion to 80 billion. Approximately 30 billion of these payments are now conducted using electronic means.
The data collection effort was commissioned by the Federal Reserve Banks. Approximately 1300 financial institutions, including banks, thrifts and credit unions, and 89 electronic payment processors responded to three surveys that looked at methods and volumes of retail payments.


Download the document now 69Kb PDF

Comments: (0)

Research resources
See all Research resources »
Payments Modernisation: Interoperability fuels the transformation of Cross-Border Payments
/research

Payments Modernisation: Interoperability fuels the transformation of Cross-Border Payments

Register for our latest webinar with Bottomline on Thursday 3 December 2020 at as industry experts discuss the Payments Modernisation: Interoperability fuels the transformation of Cross-Border Payments

On-Demand Webinar - The Art and Science of Customer Relationships
/research

On-Demand Webinar - The Art and Science of Customer Relationships

Accurately quantifying customer experience can seem an immensely nebulous task. While the benefits of improving this are evident, there is no clear method of measuring it.

Central Bank Digital Currency and Monetary Policy
/research

Central Bank Digital Currency and Monetary Policy

A Bank of Canada investigation into the benefits and costs of issuing a central bank digital currency for monetary policy.