The paper check has pretty much disappeared from the grocery checkout line, and if the trend continues, this once all-important mode of payment may become extinct. The number of checks being written is dropping by 1.8 billion a year, and at that rate, checks would go away entirely by 2026, according to Business Insider.1
Here are five reasons the paper check may have outlived its usefulness:
From rent checks to the check that comes in your birthday card, there are still plenty of instances where paper checks are preferred. However, when it comes to saving time, money, and resources, electronic payments continue to reign.
Interested in other ways to help your company save resources? You might enjoy reading “7 Easy Ways Business Managers Can Help Their Company Go Green.”