Target no longer accepting personal checks for payment

Published on

CALIFORNIA – Target is no longer accepting personal checks for in-store payments. The no check policy took effect July 15.

The Associated Press confirmed the policy with the retailer. They cited “extremely low volume” of customers who still write checks.

Digital payments on the rise

According to the Federal Reserve Bank of Atlanta, consumers used checks for 7% of transactions overall in 2017 and 2018. They wrote about three checks a month.

In comparison, digital wallets and mobile payment apps like Apple Pay have grown in popularity.

Data shows that the total transaction value in the digital payments market is projected to reach US $11.55 trillion this year.

Blockchain and AI will drive digital payment market

While the use of checks has declined with the rise of digital payments, several stores and businesses still accept them including Walmart, Costco, Home Depot, CVS and Walgreens.

Meanwhile, analysts say there are a rising number of partnerships and collaborations among payment service providers. 

That along with the implementation of advanced technologies such as blockchain and artificial intelligence is expected to drive the digital payment market growth in the coming years.

RELATED: 11 bank branches closing soon in California – 80 closures so far in 2024

spot_img

Latest articles

Heat advisory issued for Inland Empire with temps of 95–104°F expected

INLAND EMPIRE – The National Weather Service (NWS) has issued a heat advisory for...

Four-way flashing signals on 7th Street in Victorville scheduled for July 10 and July 11

VICTORVILLE – The City of Victorville announced that repairs along 7th Street will require...

Young visitors can earn a free Old Spaghetti Factory meal with the County Museum’s Summer Passport

SAN BERNARDINO COUNTY – San Bernardino County Museum (SBCM) announced the launch of its...

CA secures $750,000 settlement with AwesomeCalls for unlicensed investment advice

CALIFORNIA – California Attorney General Rob Bonta announced a $750,000 settlement, July 7, with...

More like this

CA Supreme Court rules that Ford can’t force customers to arbitrate lemon law disputes

CALIFORNIA – The California Supreme Court ruled, July 3, in the Ford Motor Warranty...

Wine distribution company laying off over 1,750 employees and exiting California

CALIFORNIA – Republic National Distributing Company (RNDC) notified the California Employment Development Department (EDD)...

UC Davis report finds $3 billion Wells Fargo scandal drove borrowers to fintech lenders

  CALIFORNIA – A UC Davis researcher published a report, July 3, finding that the...