Tuesday, December 11, 2007

Wire transactions now twice number of those by paper - The Boston Globe

Sign of the times

Electronic payments are continuing to displace paper checks, outnumbering them two-to-one as of last year, with automatic deposits and withdrawals and debit card transactions showing the fastest growth, a Federal Reserve study showed yesterday.

The study of noncash payments showed the number of paper checks fell 7 billion between 2003 and the end of 2006, to 30.6 billion, while electronic payments grew about 19 billion over the same period, to 62.7 billion.

Wire transactions now twice number of those by paper - The Boston Globe

Post a Comment