Over the past few years, there has been significant anticipation that the use of cheques in the United States would decline in favour of electronic payments. While there has undoubtedly been an increase in the use of electronic payments, the shift is gradual rather than seismic, particularly amongst smaller and medium-sized enterprises.
One of the challenges is that it is not always easy to convince suppliers and customers of the benefits of migrating from cheques; secondly, the necessary infrastructure and settlement instructions are not always in place.
Dawn LothringerTreasury Manager
Zachry Industrial, Inc.