THE CONVERSATION — Can you still use a check to make purchases? In increasing numbers of stores across the U.S., the answer is “no.” The large retailer Target stopped accepting checks on July 15, 2024. It follows decisions a decade earlier by supermarket chains Whole Foods and Aldi to no longer accept this form of payment.
Target said it was phasing out checks because not many customers use them. It’s a fair point: Check usage has fallen dramatically around the world in recent decades.
However, as a business schoolprofessor who studies how people pay for goods and services, I wonder if Target might have another, unspoken motivation. After all, customers started the switch away from checks years ago. What’s new today is a rise in check fraud.