Underwritten by J.P. Morgan
The payments industry experienced some dramatic developments over the last couple of years. New technologies, like mobile wallet and Apple pay, facilitate payments more efficiently and have emerged at a rapid pace.
But surprisingly, despite the new developments in payments, to a large extent businesses in the United States still rely on checks for paying their vendors and suppliers.
of organizations’ B2B payments are made by check
70% of respondents believe their organizations will convert the majority of their payments to electronic methods within the next three years.
of organizations rely on checks for over 60% of their B2B paymensts