Checks Are Finally Dying in B2B Payments

A lot of our clients have had Receive set up, and they’re doing that, but they’re starting to dip their toe in the water around Send.

We have, and I think we can see that not only from the number of transactions, but also in the dollar volume that’s coming through. It’s coming through in both networks, both FedNow and The Clearing House. We’re seeing huge increases quarter over quarter from last year.

Yeah.

But also just in each quarter. What we’re seeing is the trend in the right direction. Checks continue to slowly go away. Knock on wood.

Still there.

Someday.

Someday. But checks continue to slowly go away, and electronic payments continue to pick up.

Yeah. And faster payments continue to pick up, especially in the B2B space. I think that’s where the use cases are really driven.

For a long time, we were so consumer-oriented in how we approached payments.

Mm-hmm.

And now businesses, and B2B specifically, are really entering the conversation.

Let us know in the comments what you’re doing in the space, and if you have any questions, certainly reach out.