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.
This alert may not be shared outside your organization, Do Not Repost or send, place on other websites, List servers, or send to others via email, including other associations or parties. Members and Law enforcement use only. Contact us for any permissions. To do otherwise will result in the loss of membership.
Complete Story
07/16/2024
Target just became the latest US retailer to stop accepting payment by checks. Why have so many stores given up on them?
SFGate
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.
Alerts
The FRPA alert system distinguishes us from other groups by gathering and providing information to law enforcement, retailers AND financial institutions.
more information
Resources
Your electronic library to help in fighting financial fraud for all of our partners.
more information