Paper checks and check guarantee services are like everyday things that keep running and running: the iconic rabbit from the battery commercials, the backup fridge in the garage, the commuter car from way back when, and the guy in the movie named after a bunch of trees. Despite Fintechs saying they are "old and in the way," traditional checks keep millions of American businesses running and running.
Furthermore, a few financial prognosticators also predicted checks were going to be obsolete decades ago. Nevertheless, paper checks continue to prevail. As a famous author once said, “the rumors of my demise are greatly exaggerated.”
Why do checks keep running and running, and what role do check guarantee services play in their success?Read More