PAYSTAND BLOG

Read about the digital transformation of commercial payments and how to automate your enterprise cash cycle.

How much is it costing your business to accept paper checks?

Paper checks are one of the most costly ways you can collect payments from your customers. Many businesses think getting paid by check is free, but this couldn’t be further from the truth. Paper checks are loaded with labor costs, processing fees, and hidden markups. Last year alone, North American businesses processed over $18 trillion in paper checks, and it cost them a staggering $550 billion in profit due to delays, labor, and errors.

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Eduardo Lopez Eduardo Lopez on September 4, 2019

Payments, Paper Checks, Digital Payment, Paystand Bank Network

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