Infographic: Consumers still love checks…Merchants should too

Checks still continue to be a preferred method of payment for millions of consumers. In fact the Federal Reserve Bank of Boston, says that “32 million U.S. consumers today have checking accounts but do not have a credit or debit card.”

If merchants want to connect with their customers and avoid missing out on sales, they should be accepting checks and the best way to manage this form of payment is to have a remote deposit capture solution that can save you time and the hassle of taking paper checks to a bank branch or ATM, deposit an unlimited number of checks using a check scanner and even enjoy later deposit cutoff times.

RDC can reduce your risk and back office handling time by offering you re-presentment of non-sufficient funds (NSF). Competitive rates that help you save up to 90% on returns, eliminate the costs, time, and delays associated with transporting paper deposits, improve overall customer and bank efficiency, allow more favorable clearing deadlines for merchants, retains the images, making research adjustments easier

Read on to learn more about why checks are here to stay.

To learn more about First Touch Payment Solution’s RDC solution, click here.

Source: (First Data)