March 22nd, 2009
3 bln person-to-person financial transactions in 2008
US noncash person-to-person market in 2008 was $1.1 trln in over 3 bln transactions. Checks are in decline, but they remain the most significant person-to-person payment method, amounting to over $1 trln of the noncash P2P payments volume. In 2008, checks represented over $1.013 trln of the noncash P2P payments in the United States and cost financial institutions what TowerGroup estimates as $255 mln to process.
