The “Electronic Check”: Making Sense of a Multiplicity of Meanings:

The “Electronic Check”: Making Sense of a Multiplicity of Meanings

Product Type: Market Research Report
Published by: TowerGroup
Published: August 2000
Product Code: R301-673

Description

The term "electronic check" has a multiplicity of meanings in the global banking industry: the "electronic check" based on the Financial Services Markup Language (FSML); the Internet-based "electronic check" used for online payments; electronic check conversion; and electronic check presentment. This confusion results from the fact that the banking industry is currently in a period of transition where certain aspects of paper check payments are being "electronified" to improve process efficiencies, while entirely new and different "checklike" payment instruments are emerging and being adopted by the industry.

This TowerGroup Research Note explores the transition of the "check" from a payment instrument based entirely on a paper format to one based on a fully electronic format, with variations in between. It provides a view of the differences between the various types of "electronic check" and where each one fits in the transition from paper-based payments to electronic payments.

Table of Contents

Highlights

Introduction

Background

1. Early Experimentation

2. Rapid Development and Widespread Adoption

3. Saturation and Displacement

Electronic Check Presentment

Electronic Check Conversion

Electronic Check (Internet-Based)

Electronic Check (FSML-Based)

Conclusion

Ordering and More Information

Price and Delivery Options

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