More people are using debit or credit cards instead of checks and that’s leading one Iowa company to end that form of payment.
Kum and Go says starting July 1st, they will no longer accept checks.
A statement for Kum and Go in part says, “We are making this change to ensure that we can continue to provide the best service to all of our customers. We have found that checks results in slower service and lead to greater complexity in our stores.”
Kum and Go says that only one percent of their customers writes checks at the counter and the company wants to keep customers moving.
The company says checks as a form of payment has dropped 75-percent since 2007.
Kum and Go is not alone in moving away from paper checks. The Iowa Bankers Association tracks trends in banking and says many retailers are looking to plastic, “I think retailers like electronic payment because it provides good value for them,” says sr. vice president, Sharon Presnall. “It allows more customers to get through the line and I also think its being driven by the consumers themselves. There’s lots of security benefits for them using plastic.”
Checks will most likely live on in the business world, where long established accounts are paid by check.