Everyone tuned in to watch and learn how Asiana Airlines flight 214 crash in San Francisco happened. Two people died. While this is a terrible tragedy, Steven Dubner of Freakonomics points out that the number of people killed in U.S. traffic accidents since the last fatal major U.S. airline crash in the U.S.: approximately 442,600.** WHAT?! And yet, even with those statistics, the number of U.S. newspapers, TV networks, etc., that did not feature Asiana Airlines flight 214 crash as its top story: approximately zero.
In the payments world, it’s long been predicted that checks would become obsolete. It’s true that check volume has been declining, however, there were more than 25 billion checks written as of the 2010 Federal Reserve Payments Study. That’s a lot of checks that aren’t going away any time soon.
Checks are changing and the paper is definitely on it’s way out. VerifyValid is one of the companies leading the charge. To find out more about how this new tech company has given checks a makeover, watch the 2 minute explainer video. With news “finding” us these days, let’s remind ourselves to separate the sensational from sensible, the fact from the fiction.