In an era marked by technological advancements and digital financial transactions, it might seem like physical checks have become obsolete. However, the truth is that checks are still a secure form of payment for personal or business transactions. In fact, 81% of businesses are still using checks in their everyday B2B transactions, making it one of the most common forms of payment between business. 

With a physical check, businesses are protecting themselves from hacking, phishing, or ransomware attacks that come with digital or online payments. However, check fraud is still a problem, with techniques such as check washing making a return in 2023. Many think check washing can be prevented simply with MICR, but is MICR ink secure? And What is Check Washing?

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SOURCE The Troy Group