For consumers, checks are king.
Checks are simple and convenient.
Checking accounts are universal almost every household has one. Consumers say they feel more in control when they pay from their checking account. Checks are consumers preferred method of payment for goods and services. But for merchants, accepting checks has been a painful necessity by not accepting a check, a merchant runs the risk of losing a sale . In addition to the substantial basic costs of handling paper checks, the merchant incurs costs for verification and fraud control as well as the costs of recoveries on items returned unpaid by the bank.