2 3 90 · Processing paper checks is much like riding a bike. It’s great, but most of us move on...
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Don’t miss out on a sale! Let your shoppers pay as they please. Drive purchases by offering more payment options, including checks, and avoid turning them away. of small businesses agree that checks allow them to offer their customers more payment options. 7 Checks are like money in the bank — your bank. Connect with TeleCheck today: Call 866.965.8330 or visit firstdata.com/yestochecks Learn more at: firstdata.com/yestochecks Checks are still a strong part of the consumer marketplace. Accepting checks pays...big. The facts tell a whole different story. Read on for details! Remember first century B.C.? Okay, probably not. It’s believed that’s when checks made their first appearance in ancient Rome. 1 However, if you think paying by check is ancient history, think again. In its latest study, the Federal Reserve reports over 18 billion checks being paid with a total value of $26 trillion. 4 TRILLION If money talks, checks are making a huge statement. TeleCheck makes check acceptance easy and safe for small businesses. Checks make consumers feel safer. Many consumers choose checks because they believe checks are less susceptible to fraud than payment cards. 10 Electronic check transactions are safer because fraud can be detected more quickly. Check acceptance means happy customers and safe transactions. Virtually 100% electronic 6 Processing paper checks is much like riding a bike. It’s great, but most of us move on to something speedier. Checks have joined the digital revolution. Shoppers + checks = cha-ching! The average check amount is $150. And, the value of an average check is nearly three times more than the average credit card swipe. 8 That’s a big difference that can really add up at the register. AVERAGE CHECK AMOUNT $ 50 AVERAGE CARD SWIPE AMOUNT Saying yes to checks means saying yes to bigger sales. Consumers love checks… and so should you. Checks are very popular among consumers. Millions of U.S. consumers have checking accounts, but do not have a credit or debit card. 2 More than 9 in 10 U.S. consumers have a checking account. 3 CONSUMERS WITH CHECKING ACCOUNTS 90 % Smart businesses are accepting checks, now more than ever. Here’s why: $ 150 9 Sources: 1. Wikipedia, “Cheque,” citing Will Durant (1944). Caesar and Christ: a history of Roman civilization and of Christianity from their beginnings to A.D. 325. The story of civilization 3. New York: Simon & Schuster. p. 749. 2. Federal Reserve Bank of Boston, 2014. 3. Ibid. 4. 2013 Federal Reserve Payments Study. Over 18 billion checks were paid in 2012, with a value of $26 trillion. Checks paid include those presented in paper or electronic form, but exclude checks converted to other forms of payment, such as ACH. 5. TeleCheck analysis of transaction data, 2014-2015. 6. 2013 Federal Reserve Payments Study. 7. TeleCheck SMB Brand Awareness Study, April 2015 (Research by Lynx Research Consulting). 8. TeleCheck Business Analysis, 2014. 9. TeleCheck Business Analysis, August 2015. 10.TeleCheck Consumer Brand Awareness Study, March 2015 (Research conducted by YouGov). It’s true: Checks can float. Checks provide shoppers with flexibility and convenience. While checks can’t float like a cloud, they can, and do, give consumers breathing room in their checking accounts. Many take advantage of a check’s “float” period — the time between when a check is written and when it’s deducted from their account. Check usage rises 40% before paydays. 5 Paper has gone digital. > Stop missing sales by giving customers the option to pay by check > Lower costs with smaller transaction fees than other payment methods > Get paid faster with approved checks paid within 2 business days > Reduce risk with warranty service protection from bad check losses Electronic check acceptance is much easier for merchants. Savvy merchants prefer electronic checks because the processing can be completed twice as fast as traditional methods. faster processing than traditional methods. © 2016 First Data Corporation. All Rights Reserved. All trademarks, service marks and trade names referenced in this material are the property of their respective owners.
Transcript of 2 3 90 · Processing paper checks is much like riding a bike. It’s great, but most of us move on...
Don’t miss out on a sale! Let your shoppers pay as they please. Drive purchases by offering more
payment options, including checks, and avoid turning them away.
of small businesses agree that checks allow them to offer their customers more payment options.7
Checks are like money in the bank — your bank.
Connect with TeleCheck today:Call 866.965.8330 or visit firstdata.com/yestochecks
Learn more at: firstdata.com/yestochecks
Checks are still a strong part of the consumer marketplace.
Accepting checks pays...big.
The facts tell a whole different story.Read on for details!
Remember first century B.C.? Okay, probably not. It’s believed that’s when checks made their first appearance in ancient Rome.1 However, if you think
paying by check is ancient history, think again.
In its latest study, the Federal Reserve reports over 18 billion checks being paid with a total value of $26 trillion.4
trillion
If money talks, checks are making a huge statement.
TeleCheck makes check acceptance easy and safe for small businesses.
Checks make consumers feel safer. Many consumers choose checks because they believe checks are less susceptible to fraud than payment cards.10
Electronic check transactions are safer because fraud can be detected more quickly.
Check acceptance means happy customers and safe transactions.
Virtually 100% electronic6
Processing paper checks is much like riding a bike. It’s great, but most of us move on to something speedier. Checks have joined the digital revolution.
Shoppers + checks = cha-ching!The average check amount is $150. And, the value of an average check is nearly three times more than the average credit card swipe.8
That’s a big difference that can really add up at the register.
AverAge CheCk AmouNT
$50AverAge
CArD SwipeAmouNT
Saying yes to checks means saying yes to bigger sales.
Consumers love checks… and so should you.
Checks are very popular among consumers.Millions of U.S. consumers have checking accounts, but do not have a credit or debit card.2
More than 9 in 10 U.S. consumers have a checking account.3
Consumers with CheCking
ACCounts 90%
smart businesses are accepting checks, now more than ever. here’s why:
$1509
sources:1. Wikipedia, “Cheque,” citing Will Durant (1944). Caesar and Christ: a history of Roman civilization and of
Christianity from their beginnings to A.D. 325. The story of civilization 3. New York: Simon & Schuster. p. 749.
2. Federal Reserve Bank of Boston, 2014.
3. Ibid.
4. 2013 Federal Reserve Payments Study. Over 18 billion checks were paid in 2012, with a value of $26 trillion. Checks paid include those presented in paper or electronic form, but exclude checks converted to other forms of payment, such as ACH.
5. TeleCheck analysis of transaction data, 2014-2015.
6. 2013 Federal Reserve Payments Study.
7. TeleCheck SMB Brand Awareness Study, April 2015 (Research by Lynx Research Consulting).
8. TeleCheck Business Analysis, 2014.
9. TeleCheck Business Analysis, August 2015.
10. TeleCheck Consumer Brand Awareness Study, March 2015 (Research conducted by YouGov).
It’s true: Checks can float.
Checks provide shoppers with flexibility and convenience.
While checks can’t float like a cloud, they can, and do, give consumers breathing room in their checking accounts. Many take advantage of a
check’s “float” period — the time between when a check is written and when it’s deducted from their account.
Check usage rises 40% before paydays.5
paper has gone digital.
> stop missing sales by giving customers the option to pay by check
> Lower costs with smaller transaction fees than other payment methods
> get paid faster with approved checks paid within 2 business days
> reduce risk with warranty service protection from bad check losses
electronic check acceptance is much easier for merchants.Savvy merchants prefer electronic checks because the processing can be completed twice as fast as traditional methods.
faster processing than traditional methods.
© 2016 First Data Corporation. All Rights Reserved. All trademarks, service marks and trade names referenced in this material are the property of their respective owners.
