Phil Fed's Santomero on the evolution of payments

- Central Banking staff
- 23 Sep 2005

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In the speech 'The evolution of payments in the US: Paper vs. electronic' given on 10 September Anthony Santomero of the Philadelphia Fed said credit and debit cards are rapidly replacing paper checks as the most popular means of payment in the United States, changing the way such payments are processed.

In the speech Santomero said: "It appears our nation's pattern of payments is finally evolving - some might say it is experiencing a radical change - from one based on paper checks to one based

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