The End of Checks: How Tech Reshaped Spending

The Decline of Check Usage in Modern Banking

According to Dana Phillips, Vice President of First United Bank, the use of checks has significantly declined alongside the rise of newer and more convenient payment methods. Phillips emphasized that as the world moved away from cash and gold coins, checks initially gained popularity as a safer and more efficient way to access funds. However, the introduction of debit and credit cards in the late 90s, followed by cutting-edge technologies like Apple Pay, Google Pay, and tap-to-pay options, have further accelerated the decline of check usage.