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Why do we use so many checks?

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  • Sujit Chakravorti
  • Timothy McHugh

Abstract

The authors identify underlying disincentives for payment system participants to migrate to electronic payments. Their analysis sheds light on why check usage remains higher in the United States relative to other industrialized countries when the real resource cost of processing payments may decrease by using electronic payment networks.

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Bibliographic Info

Article provided by Federal Reserve Bank of Chicago in its journal Economic Perspectives.

Volume (Year): (2002)
Issue (Month): Q III ()
Pages: 44-59

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Handle: RePEc:fip:fedhep:y:2002:i:qiii:p:44-59:n:v.26no.3

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Related research

Keywords: Checks ; Payment systems;

References

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  1. David Humphrey & Lawrence Pulley & Jukka Vesala, 2000. "The Check's in the Mail: Why the United States Lags in the Adoption of Cost-Saving Electronic Payments," Journal of Financial Services Research, Springer, vol. 17(1), pages 17-39, February.
  2. Sujit Chakravorti & Ted To, 1999. "Toward a theory of merchant credit card acceptance," Working Paper Series WP-99-16, Federal Reserve Bank of Chicago.
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Citations

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Cited by:
  1. Sujit Chakravorti & Emery Kobor, 2003. "Why invest in payment innovations?," Emerging Issues, Federal Reserve Bank of Chicago, issue Jun.
  2. Sujit Chakravorti, 2003. "Theory of credit card networks: a survey of the literature," Payment Cards Center Discussion Paper 03-09, Federal Reserve Bank of Philadelphia.
  3. Eugene Amromin & Sujit Chakravorti, 2007. "Debit card and cash usage: a cross-country analysis," Working Paper Series WP-07-04, Federal Reserve Bank of Chicago.
  4. Jyrkönen, Hanna & Paunonen, Heli, 2003. "Card, Internet and mobile payments in Finland," Research Discussion Papers 8/2003, Bank of Finland.
  5. Tumen, Semih, 2012. "Regulation and the market for checks," Economic Modelling, Elsevier, vol. 29(3), pages 858-867.
  6. Chakravorti Sujit & Roson Roberto, 2006. "Platform Competition in Two-Sided Markets: The Case of Payment Networks," Review of Network Economics, De Gruyter, vol. 5(1), pages 1-25, March.
  7. Cronin, David & McGuinness, Anne, 2010. "Retail Payment Practices. How They Have Evolved in Recent Times and Where They Might Be Going," Quarterly Bulletin Articles, Central Bank of Ireland, pages 56-82, April.
  8. Hanna Jyrkonen & Heli Paunonen, 2004. "Card, Internet and mobile payments in Finland," Development and Comp Systems 0405004, EconWPA.

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