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The paper check has a nasty reputation in B2B payments as a cumbersome, manual and risky payment rail. Yet data from the 2016 Association of Financial Professionals’ Electronic Payments Survey released last September actually found a 1 percent increase in corporates’ use of paper checks compared to two years ago.
the data shows, and most are written by corporates, lenders and other enterprises via supplier payments, payroll, expenses and other types of transactions. According to Ingo Money CEO Drew Edwards, paper checks are simply an easier way for an organization to make a one-time payment to another organization with which it has no relationship.
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