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•Guest Column: In The Pursuit Of Electronic Payments, Don't Forget About The Check

By Mark Wallin, division manager, First Data Corporation

Believe it or not, checks continue to play a significant role in the U.S. payments ecosystem. Studies show that one-third of all non-cash payments are made by paper checks. In addition, more than 60 percent of consumers use a check or money order to make purchases at retailers at least once a month, according to the Federal Reserve Bank of Boston. Many consumers also are inclined to use e-checks over credit or debit cards when purchasing items online. According to a 2008 Cybersource study, online retailers can see up to a nine percent increase in sales simply by offering e-checks as a form of payment.

So, even in our steadfast pursuit of electronic payments, consumers and businesses alike are still using checks.

That's good news for merchants since most already accept a paper or electronic check for purchases. However, that also means that check fraud is alive and well, and it's even on the rise. In many fraud cases, a merchant will spend a lot of time trying to recapture the money they lost that they may not get back. To help avoid that stress, here are some cost effective and time efficient ways to help you reduce your fraud risks.

Click Here To Download:
•Guest Column: In The Pursuit Of Electronic Payments, Don't Forget About The Check