Forty-six percent of paper checks written in the U.S., notincluding government checks, involve a small business, according toa new research brief.
|NACHA – The Electronic Payments Association and FIS, a leadingprovider of banking and payments technologies, said 24% of checktransactions are small business B2B payments and 10% are consumerto small business payments.
|The research also showed that 12% are for smallbusiness payroll, which represents 2.7 billion paper checks peryear.
|Currently, two-thirds of small businesses do not offer directdeposit via ACH to their employees, according to the researchbrief. Forty-six percent of small businesses said they felt theyhad too few employees to justify offering the services while 28%indicated their employees preferred checks or cash.
|Another 26% said their business had never been approached byanyone about using direct deposit and 21% believed direct depositis too expensive.
|The research brief, “StillPaying With Paper: Small Businesses Continue to Write and ReceiveChecks,” is based on the findings of a survey jointlyconducted by FIS and NACHA in November 2010 to understand paymentbehavior among small businesses in the U.S.
|Respondents included 2,249 small businesses owners, chiefexecutive officers or presidents, chief financial officers,controllers or treasurers, office managers, accountants, orbookkeepers.
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