This individual Report The Electronification of Paper Checks: Conversion, Truncation and Other Mechanisms for Resuscitation is available for purchase. This Report is available to members of Mercator Advisory Group’s Emerging Technologies Advisory Service. Please be advised that this Report is normally part of a research and advisory service that provides ongoing support throughout the year. As such, this Report contains significant depth of content that is selected for its strategic importance to our members. (For a description of these services, see our Advisory Services section).
While the Report represents significant analyst time invested, there is no means of our ascertaining if it will fully meet your specific intended purposes. Typically, these Reports form the basis for future discussions with our clients where we are able to fine-tune additional information that we have gathered in the construction of the series of Reports (or locate new information rapidly due to our exclusive focus on gathering information in the payments industry) for specific member needs.
Unfortunately, in fairness to our paying members, we are not able to offer this level of support for a single Report purchase. We will, however, credit any Research Document purchase against the future purchase price of the service should you become a member within 30 days of purchasing the document.
The price for individual Report purchases is $2450 per document.
Use the form below to request this individual Report purchase orClick here for a fax-back order form
The Electronification of Paper Checks: Conversion, Truncation and Other Mechanisms for Resuscitation
NEW RESEARCH REPORT BY MERCATOR ADVISORY GROUP
At many levels, check electronification is necessary -- the decline in paper check volume along with the fixed costs associated with the transportation of paper checks has meant that the entities supporting these have had to rethink their strategies for survival. However, more payments are made by check than any other medium and while in decline, checks are still at volumes that would be impossible to shft from in the near future.
Nick Holland, Director of the Emerging Technologies Advisory Service and co-author of the report sees check electronification as a vital mechanism to cope with the continued popularity of paper checks in the US:
"When you consider that checks account for 46% of PCE in the US, you realize that this is not a payment mechanism that can easily be displaced. The decline in check volume is certainly happening, but checks are not going to disappear overnight..."
ARC and POP Transaction Volume 2004, One of Twelve Exhibits in this Report
This conundrum is being addressed by check electronification -- checks are either converted to pure electronic messages, as is the case with ACH check conversion, or they are imaged in a process known as 'truncation' to become documents that can be sent electronically and then, if necessary, be reconverted to paper check equivalents.
The need for check electronification at the POS is going to grow as a result of merchants being caught between a rock and a hard place. Holland states:
"With pressures exerted by financial institutions on the one side and the continued popularity of checks with the consumer on the other, merchants will increasingly see the case for check electronification as a way of continuing to accept checks profitably. This will present considerable opportunities for check imaging hardware vendors in the next couple of years as they capitalize on this."
The report is 23 pages and contains 12 exhibits.
Members of Mercator Advisory Group have access to these reports as well as the upcoming research for the year ahead, presentations, analyst access and other membership benefits. Please visit us online at www.mercatoradvisorygroup.com.
For more information call Mercator Advisory Group's main line: 508-845-5400 or send email to firstname.lastname@example.org.