Payments Exchange

Federal Reserve Payments Study Highlights Changes in Consumer and Businesses Payment Choices: Fast Facts

Today, the Federal Reserve released additional data from the 2016 Federal Reserve Payments Study that was published in December 2016. The information contained in the release surrounds a variety of payment types including check, card and ACH. Discover more about these changes by reviewing a few of the fast facts from the report:

  • Consumers wrote roughly two-thirds fewer checks per household in 2015 than in 2000 while total non-cash payments per household expanded nearly 75 percent
  • In 2015, businesses wrote only 24 checks per month, on average, compared with 93 per month in 2000. Additionally, check usage decline since 2000 was steeper for businesses than for consumers
  • In 2015, non-prepaid debit cards was the most popular payment type among consumers
  • In 2015, ACH credit transfers were the most popular payment type used by businesses

Learn more by reading the press release in its entirety.

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