Central Banking

Fed says electronic payments exceed check payments

Surveys conducted by the Federal Reserve confirm that electronic payment transactions in the United States have exceeded check payments for the first time, the Financial Services Policy Committee said Monday 6 December.

The number of electronic payment transactions totaled 44.5 billion in 2003, while the number of checks paid totaled 36.7 billion, according to recent surveys of U.S. depository financial institutions and electronic payments organizations.

Previous research by the Federal Reserve

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