1. Check writing persists because checks have important attributes, including ubiquity and convenience, which are not well replicated by other types of payments, including electronic payments. Also, many receivers of checks prefer other forms of payment but exercise little control over the sender to request a different form of payment.
1. Check writing persists because checks have important attributes, including ubiquity and convenience, which are not well replicated by other types of payments, including electronic payments. Also, many receivers of checks prefer other forms of payment but exercise little control over the sender to request a different form of payment. Strongly Agree
1. Check writing persists because checks have important attributes, including ubiquity and convenience, which are not well replicated by other types of payments, including electronic payments. Also, many receivers of checks prefer other forms of payment but exercise little control over the sender to request a different form of payment. Agree
1. Check writing persists because checks have important attributes, including ubiquity and convenience, which are not well replicated by other types of payments, including electronic payments. Also, many receivers of checks prefer other forms of payment but exercise little control over the sender to request a different form of payment. Neutral
1. Check writing persists because checks have important attributes, including ubiquity and convenience, which are not well replicated by other types of payments, including electronic payments. Also, many receivers of checks prefer other forms of payment but exercise little control over the sender to request a different form of payment. Disagree
1. Check writing persists because checks have important attributes, including ubiquity and convenience, which are not well replicated by other types of payments, including electronic payments. Also, many receivers of checks prefer other forms of payment but exercise little control over the sender to request a different form of payment. Strongly Disagree
2. Unlike some other countries, the U.S. payment system does not have a ubiquitous near-real-time retail payment system. There have been some private-sector innovations that have facilitated an incremental move toward faster payments.
2. Unlike some other countries, the U.S. payment system does not have a ubiquitous near-real-time retail payment system. There have been some private-sector innovations that have facilitated an incremental move toward faster payments. Strongly Agree
2. Unlike some other countries, the U.S. payment system does not have a ubiquitous near-real-time retail payment system. There have been some private-sector innovations that have facilitated an incremental move toward faster payments. Agree
2. Unlike some other countries, the U.S. payment system does not have a ubiquitous near-real-time retail payment system. There have been some private-sector innovations that have facilitated an incremental move toward faster payments. Neutral
2. Unlike some other countries, the U.S. payment system does not have a ubiquitous near-real-time retail payment system. There have been some private-sector innovations that have facilitated an incremental move toward faster payments. Disagree
2. Unlike some other countries, the U.S. payment system does not have a ubiquitous near-real-time retail payment system. There have been some private-sector innovations that have facilitated an incremental move toward faster payments. Strongly Disagree
3. Most recent payment innovations are still limited-participation systems where both sender and receiver must join. Legacy payment systems tend to be more ubiquitous.
3. Most recent payment innovations are still limited-participation systems where both sender and receiver must join. Legacy payment systems tend to be more ubiquitous. Strongly Agree
3. Most recent payment innovations are still limited-participation systems where both sender and receiver must join. Legacy payment systems tend to be more ubiquitous. Agree
3. Most recent payment innovations are still limited-participation systems where both sender and receiver must join. Legacy payment systems tend to be more ubiquitous. Neutral
3. Most recent payment innovations are still limited-participation systems where both sender and receiver must join. Legacy payment systems tend to be more ubiquitous. Disagree
3. Most recent payment innovations are still limited-participation systems where both sender and receiver must join. Legacy payment systems tend to be more ubiquitous. Strongly Disagree
4. Some features that are desired increasingly by end users are generally lacking in many legacy payment systems, such as: a) A real-time validation process assuring the payee that the payer’s account exists and it has enough funds or available credit to cover the payment; b) Assurance that a payment will not be returned or reversed; c) Timely notification to the payer and payee that the payment has been made; d) Near-real-time posting / availability of funds to both the payer’s and payee’s accounts; and e) Masked account details, eliminating the need for end users to disclose bank account information to each other.
4. Some features that are desired increasingly by end users are generally lacking in many legacy payment systems, such as: a) A real-time validation process assuring the payee that the payer’s account exists and it has enough funds or available credit to cover the payment; b) Assurance that a payment will not be returned or reversed; c) Timely notification to the payer and payee that the payment has been made; d) Near-real-time posting / availability of funds to both the payer’s and payee’s accounts; and e) Masked account details, eliminating the need for end users to disclose bank account information to each other. Strongly Agree
4. Some features that are desired increasingly by end users are generally lacking in many legacy payment systems, such as: a) A real-time validation process assuring the payee that the payer’s account exists and it has enough funds or available credit to cover the payment; b) Assurance that a payment will not be returned or reversed; c) Timely notification to the payer and payee that the payment has been made; d) Near-real-time posting / availability of funds to both the payer’s and payee’s accounts; and e) Masked account details, eliminating the need for end users to disclose bank account information to each other. Agree
4. Some features that are desired increasingly by end users are generally lacking in many legacy payment systems, such as: a) A real-time validation process assuring the payee that the payer’s account exists and it has enough funds or available credit to cover the payment; b) Assurance that a payment will not be returned or reversed; c) Timely notification to the payer and payee that the payment has been made; d) Near-real-time posting / availability of funds to both the payer’s and payee’s accounts; and e) Masked account details, eliminating the need for end users to disclose bank account information to each other. Neutral
4. Some features that are desired increasingly by end users are generally lacking in many legacy payment systems, such as: a) A real-time validation process assuring the payee that the payer’s account exists and it has enough funds or available credit to cover the payment; b) Assurance that a payment will not be returned or reversed; c) Timely notification to the payer and payee that the payment has been made; d) Near-real-time posting / availability of funds to both the payer’s and payee’s accounts; and e) Masked account details, eliminating the need for end users to disclose bank account information to each other. Disagree
4. Some features that are desired increasingly by end users are generally lacking in many legacy payment systems, such as: a) A real-time validation process assuring the payee that the payer’s account exists and it has enough funds or available credit to cover the payment; b) Assurance that a payment will not be returned or reversed; c) Timely notification to the payer and payee that the payment has been made; d) Near-real-time posting / availability of funds to both the payer’s and payee’s accounts; and e) Masked account details, eliminating the need for end users to disclose bank account information to each other. Strongly Disagree
5. In general, cross-border payments from and to the U.S. can be slow, inconvenient, costly, and lack transparency regarding fees and timing. (Note: The CFPB international remittance transfer rule’s new disclosure and other requirements will be effective on October 28, 2013.)
5. In general, cross-border payments from and to the U.S. can be slow, inconvenient, costly, and lack transparency regarding fees and timing. (Note: The CFPB international remittance transfer rule’s new disclosure and other requirements will be effective on October 28, 2013.) Strongly Agree
5. In general, cross-border payments from and to the U.S. can be slow, inconvenient, costly, and lack transparency regarding fees and timing. (Note: The CFPB international remittance transfer rule’s new disclosure and other requirements will be effective on October 28, 2013.) Agree
5. In general, cross-border payments from and to the U.S. can be slow, inconvenient, costly, and lack transparency regarding fees and timing. (Note: The CFPB international remittance transfer rule’s new disclosure and other requirements will be effective on October 28, 2013.) Neutral
5. In general, cross-border payments from and to the U.S. can be slow, inconvenient, costly, and lack transparency regarding fees and timing. (Note: The CFPB international remittance transfer rule’s new disclosure and other requirements will be effective on October 28, 2013.) Disagree
5. In general, cross-border payments from and to the U.S. can be slow, inconvenient, costly, and lack transparency regarding fees and timing. (Note: The CFPB international remittance transfer rule’s new disclosure and other requirements will be effective on October 28, 2013.) Strongly Disagree
6. Mobile devices have potential to transform wide ranging aspects of business and commerce, including the payment. Digital wallets can provide merchants with new data and applications on consumers. Some digital wallets can reduce the visibility and choice of the payment instrument at the point of sale.
6. Mobile devices have potential to transform wide ranging aspects of business and commerce, including the payment. Digital wallets can provide merchants with new data and applications on consumers. Some digital wallets can reduce the visibility and choice of the payment instrument at the point of sale. Strongly Agree
6. Mobile devices have potential to transform wide ranging aspects of business and commerce, including the payment. Digital wallets can provide merchants with new data and applications on consumers. Some digital wallets can reduce the visibility and choice of the payment instrument at the point of sale. Agree
6. Mobile devices have potential to transform wide ranging aspects of business and commerce, including the payment. Digital wallets can provide merchants with new data and applications on consumers. Some digital wallets can reduce the visibility and choice of the payment instrument at the point of sale. Neutral
6. Mobile devices have potential to transform wide ranging aspects of business and commerce, including the payment. Digital wallets can provide merchants with new data and applications on consumers. Some digital wallets can reduce the visibility and choice of the payment instrument at the point of sale. Disagree
6. Mobile devices have potential to transform wide ranging aspects of business and commerce, including the payment. Digital wallets can provide merchants with new data and applications on consumers. Some digital wallets can reduce the visibility and choice of the payment instrument at the point of sale. Strongly Disagree
7. Businesses (especially large ones) have payment and accounting systems that are complex and costly to change.
7. Businesses (especially large ones) have payment and accounting systems that are complex and costly to change. Strongly Agree
7. Businesses (especially large ones) have payment and accounting systems that are complex and costly to change. Agree
7. Businesses (especially large ones) have payment and accounting systems that are complex and costly to change. Neutral
7. Businesses (especially large ones) have payment and accounting systems that are complex and costly to change. Disagree
7. Businesses (especially large ones) have payment and accounting systems that are complex and costly to change. Strongly Disagree
8. Consumer fears about payment security sometimes inhibit adoption of electronic payments.
8. Consumer fears about payment security sometimes inhibit adoption of electronic payments. Strongly Agree
8. Consumer fears about payment security sometimes inhibit adoption of electronic payments. Agree
8. Consumer fears about payment security sometimes inhibit adoption of electronic payments. Neutral
8. Consumer fears about payment security sometimes inhibit adoption of electronic payments. Disagree
8. Consumer fears about payment security sometimes inhibit adoption of electronic payments. Strongly Disagree