[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"detail-sidebar-cat-0-en-105":3,"doc-seo-324873-105":59,"doc-detail-324873-en":131},{"code":4,"msg":5,"data":6},0,"success",[7,13,18,23,28,33,38,43,48,51,55],{"id":8,"doc_module":4,"doc_module_name":9,"category_name":10,"show_sort_weight":11,"slug":12},1,"Document","Story & Novel",90,"story-novel",{"id":14,"doc_module":4,"doc_module_name":9,"category_name":15,"show_sort_weight":16,"slug":17},2,"Literature",80,"literature",{"id":19,"doc_module":4,"doc_module_name":9,"category_name":20,"show_sort_weight":21,"slug":22},4,"Exam",70,"exam",{"id":24,"doc_module":4,"doc_module_name":9,"category_name":25,"show_sort_weight":26,"slug":27},5,"Comic",60,"comic",{"id":29,"doc_module":4,"doc_module_name":9,"category_name":30,"show_sort_weight":31,"slug":32},6,"Technology",50,"technology",{"id":34,"doc_module":4,"doc_module_name":9,"category_name":35,"show_sort_weight":36,"slug":37},7,"Healthcare",40,"healthcare",{"id":39,"doc_module":4,"doc_module_name":9,"category_name":40,"show_sort_weight":41,"slug":42},8,"Research & Report",30,"research-report",{"id":44,"doc_module":4,"doc_module_name":9,"category_name":45,"show_sort_weight":46,"slug":47},9,"Religion & Spirituality",20,"religion-spirituality",{"id":46,"doc_module":4,"doc_module_name":9,"category_name":49,"show_sort_weight":46,"slug":50},"World Cup","world-cup",{"id":52,"doc_module":4,"doc_module_name":9,"category_name":53,"show_sort_weight":52,"slug":54},10,"Lifestyle","lifestyle",{"id":56,"doc_module":4,"doc_module_name":9,"category_name":57,"show_sort_weight":24,"slug":58},19,"General","general",{"code":4,"msg":60,"data":61},"ok",{"site_id":62,"language":63,"slug":64,"title":65,"keywords":66,"description":67,"schema_data":68,"social_meta":124,"head_meta":126,"extra_data":128,"updated_unix":130},105,"en","when-is-checkout-time","When Is Checkout Time?","","Explores how paper checks, long predicted to disappear after the rise of computers and electronic networks, have declined more slowly in retail than in large-value payments. Using comparisons of payment-instrument shares from 1987 to 2000, it shows that checks fell while retail electronic payments grew. The analysis attributes the shift to lower service costs, network economies that increase adoption, and legislation such as “Check 21.”",{"@graph":69,"@context":123},[70,84,106],{"@type":71,"itemListElement":72},"BreadcrumbList",[73,77,79,82],{"item":74,"name":75,"@type":76,"position":8},"https://docshare.wps.com","Home","ListItem",{"item":78,"name":9,"@type":76,"position":14},"https://docshare.wps.com/document/",{"item":80,"name":40,"@type":76,"position":81},"https://docshare.wps.com/document/research-report/",3,{"item":83,"name":65,"@type":76,"position":19},"https://docshare.wps.com/document/when-is-checkout-time/324873/",{"url":83,"name":65,"@type":85,"image":86,"author":91,"headline":65,"publisher":94,"fileFormat":97,"inLanguage":63,"description":67,"dateModified":98,"datePublished":99,"encodingFormat":97,"isAccessibleForFree":100,"interactionStatistic":101},"DigitalDocument",{"url":87,"@type":88,"width":89,"height":90},"https://docshare.wps.com/thumbnails/when-is-checkout-time/324873.png","ImageObject",300,407,{"name":92,"@type":93},"Genevieve","Person",{"url":74,"name":95,"@type":96},"DocShare","Organization","application/pdf","2026-11-05","2026-09-21",true,{"@type":102,"interactionType":103,"userInteractionCount":105},"InteractionCounter",{"@type":104},"ViewAction",11,{"@type":107,"mainEntity":108},"FAQPage",[109,115,119],{"name":110,"@type":111,"acceptedAnswer":112},"Why did futurists predict paper checks would disappear, and why was that prediction only partly right?","Question",{"text":113,"@type":114},"They expected computers and electronic networks to replace paper checks. It proved largely correct for large-value payments, but retail payments among millions of consumers and small businesses were harder to convert.","Answer",{"name":116,"@type":111,"acceptedAnswer":117},"What do the 1987 and 2000 comparisons suggest about check usage?",{"text":118,"@type":114},"Checks dropped as a share of noncash retail transactions, declining from 85 percent in 1987 to 59.5 percent by 2000, while retail electronic payments grew to 40.5 percent.",{"name":120,"@type":111,"acceptedAnswer":121},"Which forces are said to accelerate the decline of checks?",{"text":122,"@type":114},"Growing acceptance of electronic payment instruments and legislation designed to reduce reliance on paper checks, including “Check 21,” which helps expand electronic presentment and settlement.","https://schema.org",{"og:url":83,"og:type":125,"og:title":65,"og:site_name":95,"og:description":67},"article",{"robots":127,"canonical":83},"index,follow",{"doc_id":129,"site_id":62},324873,1790172845,{"code":4,"msg":5,"data":132},{"doc_id":129,"user_id":133,"nickname":92,"user_avatar":134,"doc_module":4,"category_id":39,"category_name":40,"doc_title":65,"doc_description":67,"doc_content":135,"file_id":136,"file_url":137,"file_type":138,"file_size":139,"view_count":105,"is_deleted":4,"is_public":8,"is_downloadable":8,"audit_status":8,"page_count":24,"language":140,"language_code":63,"site_id":62,"html_lang":63,"table_of_contents":141,"faqs":142,"seo_title":143,"seo_description":67,"update_tm":144,"read_time":145,"preview_page_count":4},1374391974585,"https://ap-avatar.wpscdn.com/davatar_276721f389ce27ea32af1340a28f341c","# When Is Checkout Time?\n\nby Paul W.Bauer  \n\"They always say time changes things,butyou actually have to change themwourself.”  \n—Andy Warhol(1928-1987),The Philosophy of Anchy Warhol  \nThe death of paperchcekshas beenpredicted for many years.Starting in the1960s,futurists thought that computersand electronic networks would replacepaper checks,long the leader in noncashretail payments.Yet in 2000,42.5 billionpaper checks were still being written.What such prognosticators forgot washat economic agents have to have anincentive to change their behaviorbecause there is always some cost forchanging it.  \nConverting large-value payments turnedout to be fairly straightforward becausethey generally occur among financialinstitutions and large businessesForsome time,the benefits of convertingthese large-value transactions frompaper-based instruments to electronicones more than offset any transitioncosts.By 1987,electronic payments,mostly in the form of wire transfers,accounted for 83 percent of the totalvalue exchanged in trade,while paperchecks accounted for only 16 percent.Thus for large-value payments,thefuturists essentially got it right.  \nHowever,for retail payments,which arefar more numerous than large-value pay-ments but for much smaller sums onaverage,the best we can say is thatrumors of paper check's demise werepremature.What was not understood washow much more challenging it would beto convert retail payments that take placeamong millions ofconsumers and thou-sands of small businesses from paperinstruments to electronic ones.Thisprocess has onlyjust begun to occur in asignificant way within the last 15 years.  \nEstimates suggest that as recently as1987,most transactions were conductedwith cash(83 percent),while a sizeablechunk was still done by check(almost15 percent).Electronic payments werepractically nonexistent:All forms ofelectronic payments together totalledless than 0.5 percent of all transactions(\"The U.S.Payment System:Efficiency,Risk and the Role of the FederalReserve,\"by Allen Berger and DavidHumphrey,1990).Thus,while the valueexchanged in trade had largely goneelectronic by 1987,the vast number ofsmall-value transactions had not.  \nOver the last few years,the cost of pro-viding electronic payment services hasfallen,so much so that,in many cases,payment providers can offer consumersincentives to use their electronic instru-ments while still lowering merchants'overall cost of handling these paymentsConsumers are responding.A comparisonof the shares of various payment instru-ments in 1987 with those for 2000 showsthat the payments market has changedsignificantly (the 1987 estimates are fromthe Berger and Humphrey article citedabove,and the 2000 estimates are from asurvey conducted by the Federal Reservein 2001 of depository institutions,electronic payment networks,and cardissuers).In 1987,checks were the domi-nant form of noncash payment,account-ing for 85 percent of all the transactionsthat weren't conducted with cash.By2000,check's share had taken a dive.falling to 59.5 percent.Retail electronicpayments,a blipon the radar in 1987,were starting to take over.In 1987,theyaccounted for less than 2 percent of allnoncash transactions;in little over adecade they had grown to 40.5 percent(Other forms of noncash retail paymentsin 1987 were credit cards—then consid-ered nonelectronic—travelers checks,andmoney orders.)  \nThe death of paperchecks has beenpredicted since the 1960s,but onlyrecently has their use begun to decline.The end may be near,though,as twoforces accelerate the trend away fromchecks:the growing acceptance ofelectronic payment instruments andthe passage of legislation designed toreduce our reliance on paper checks.  \nEvidence from other sources suggeststhat electronic payment instrumentsare making inroads against papercurrency as well.The real value ofsmall-denomination notes in circulation,the type most frequently used in retailtransactions,has been falling since thelate 1980s(see figure 1).Except for abrie","cbCaigUxKHWBxzWS","https://ap.wps.com/l/cbCaigUxKHWBxzWS","pdf",1156599,"English","# When Is Checkout Time?\n## Large-value versus retail payment shifts\n## Adoption drivers: costs and incentives\n## Evidence of declining cash and checks\n## Network economies and technology","[{\"question\":\"Why did futurists predict paper checks would disappear, and why was that prediction only partly right?\",\"answer\":\"They expected computers and electronic networks to replace paper checks. It proved largely correct for large-value payments, but retail payments among millions of consumers and small businesses were harder to convert.\"},{\"question\":\"What do the 1987 and 2000 comparisons suggest about check usage?\",\"answer\":\"Checks dropped as a share of noncash retail transactions, declining from 85 percent in 1987 to 59.5 percent by 2000, while retail electronic payments grew to 40.5 percent.\"},{\"question\":\"Which forces are said to accelerate the decline of checks?\",\"answer\":\"Growing acceptance of electronic payment instruments and legislation designed to reduce reliance on paper checks, including “Check 21,” which helps expand electronic presentment and settlement.\"}]","When Is Checkout Time? | PDF",1789969099,13]