The Rise And Fall of Paper Checks
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Excerpt From The White Paper
Imagine billions of dollars literally in the air at one time. It’s crazy to think about, right? Almost a decade ago, having 6 billion dollars in checks flying to a destination on any given day was considered absolutely normal. Then came September 11th, 2001 when the FAA grounded planes, putting 47 billion dollars in checks in an uncertain limbo.
47 billion dollars. To put it into perspective — the length of 1 billion 1 dollar bills laid end-to-end measures 96,900 miles. This would extend around the earth almost 4 times. Now multiply that by 47. That’s 4,554,300 miles, extending around the earth almost 188 times.