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.
For those going into business or seeking a business degree, the demise of the check and other 20th century inventions upon which businesses once depended—such as the fax machine—raises the issue of what business look like in five years. And further, will businesses that cater to the 50-plus crowd differ from a business whose target market is in their 20s. Learning about trends in business is integral to the study of Business Administration. In fact, at Walden University, those seeking a BS in Business Administration will learn essential business and leadership skills that can be applied in any industry.
Walden University is an accredited institution offering online business degree programs for working professionals. Expand your career options and earn your degree in a convenient, flexible format that fits your busy life.
Walden’s BS in Business Administration program is accredited by the Accreditation Council for Business Schools and Programs (ACBSP). Among other benefits, ACBSP accreditation signifies that the program meets standards of quality endorsed by businesses, government, and other organizations.
Walden University is accredited by The Higher Learning Commission, www.hlcommission.org.