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May 2, 2017

Checks are still accepted as payment method in some e-commerce services

Checks are still accepted as payment method in some e-commerce services

Checks are the traditional way of transferring money from a drawer, i.e., the person writing the check, to the beneficiary, i.e., the person whose name is written on the check. In other words, a check is a financial instrument or a type of bill of exchange.

30% less checks in 7 years in France. Checks used to be a highly popular non-cash payment method, but their usage has fallen due to the rise of electronic payments, which is what the following figure illustrates.

Data source. The data series covers 2008 to 2015 and is taken from the Verifiance service provider in France [1], which allows retailers to test checks against a national database of bad or opposed checks [2]; 2016, 2017, and 2018 are estimates.

References

  1. Verifiance; chiffres clés
  2. Fncpi, fichier national des chèques irréguliers, — Wikipedia, the free encyclopedia.
  3. Photo by Godot13 / Smithsonian Institution [CC BY-SA 3.0 (https://creativecommons.org/licenses/by-sa/3.0)]