Although writing a check can feel like a vintage activity for most people, checks still represent billions of transactions each year. They haven’ quite gone the way of the dinosaur yet, so accepting checks at your location is still relevant to your business in many ways. The most important reason being that checks are still preferred with some shoppers – especially over 50 – so making sure you keep checks as an option is important for your business to make those sales.
There’s no arguing that the use of checks has declined sharply for the past ten years in favor of credit card processing, however. This shift in consumer attitude is due to several factors. The convenience of simply swiping a card as opposed to filling out all of the fields in a check is hard to beat.
Checks also bring some risk of identity theft – the customer’s name, information, and bank account routing information is all right there – not to mention the inflated fees that come along with a bounced check. Despite these concerns, checks still offer a good alternative in certain situations.
Why People Still Use Paper Checks
For some people, checks make the most sense – especially when a person is faced with little options other than cash. Here are a few reasons people still like to keep their checkbook handy:
#1 Getting stuck with extra fees to process credit card payments....
