this post was submitted on 07 Jul 2024
113 points (96.7% liked)
Business
471 readers
55 users here now
A place to share business news and insights.
Rules
- Follow lemmy.world rules
- Only post content related to business
- Do not use this community to promote your business
founded 2 years ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
Honestly that makes a good bit more sense to explain why it’s lasted this long. And, my guess is that the processing fees are lower than credit cards which is probably nice. But yeah, at some point you and your customers gotta agree to enter the 1990s era of payment technology.
Checks are processed exactly the same as debit cards since about 2008 with Check21.
The difference is the store or bank don't (doesn't?) have to retain copies of checks when you use a debit card.