Richmond Fed Economic Brief

EB 09-06, June 2009

person writing

The Growth of Paperless Money: Retail Payments in the United States Continue to Evolve

by T. Stuart Desch, assistant vice president, and Kiran Krishnamurthy

Abstract

The use of electronic payment methods has increased rapidly over the last decade. Recent studies shed greater light on the forms these payments are taking — and why checks still serve a vital function for certain transactions.

Full Essay


Category

Payments and Policy

Additional Resources

Federal Reserve Studies on the Payments System