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A
recent study conducted by Synergistics Research has found that checks are
still king. The Study, “Changing Consumer Payment Habits” found that
when payments are considered in terms of monthly frequency of use, checks
still lead the way.
Genie Driskill,
Synergistics’ CEO said, “The payment and transaction system of the
future will incorporate a wide number of technological innovations that
have already achieved significant in-roads. These include PC bill payment,
smart cards, stored-value cards, and electronic checks. Depository
institutions. . . need to realize that failing to give customers all the
transaction choices they want may result in losing part or all of the
customer relationship to third-party competitors that will fill the
void.”
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