While it’s true check volumes have decreased over the past few years,
they still play a significant role in America’s payments system.
According to the 2013 Federal Reserve Payments Study, over 14 billion
checks were processed in 2012, equating to over $22 trillion in
payments. Given the significant volume and value of checks in the
payments system, the degree of operational and product change resulting
from the shift from checks to check images, and the complexity of
ongoing regulatory changes, industry participants need to maintain and
cultivate additional check expertise.
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