Somewhat paradoxically, B-to-B payments made by check have actually gone up in the U.S. since 2013. According to a survey conducted by the Association of Financial Professionals, a majority (51%) of organizations’ B-to-B payments continue to be made by check. Although the use of checks in B-to-B payments had been steadily declining since 2004, there has been a one-percentage-point increase in check usage since 2013.
Given the availability of electronic payments alternatives—especially when compared to payment practices in other industrialized countries where checks are rarely used—there seems to be a particular reluctance by U.S.-based businesses to fully transition away from check payments. However, this is still significantly less than the 81% and 74% reported in 2004 and 2007, respectively, and can be expected to be something of a blip on an otherwise downward trajectory for B-to-B check volume as electronic alternatives become increasingly pervasive.