Why can’t Americans ditch checks?


Source: Katie Robertson, Bloomberg

In an era of smartphones, online banking, and Venmo transfers, the U.S. still can’t seem to wean itself off paper checks. In most countries, they’ve gone the way of the fax machine and the rotary telephone. But their demise isn’t coming to America any time soon.  

In part, blame Americans’ comfort with them, and the fact they serve the underserved.

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