The End of Paper Checks: Why Businesses Must Move Now

The End of Paper Checks: Why Businesses Must Move Now

Paper checks have been on borrowed time for years—but today, the pressure to modernize is stronger than ever. The U.S. Treasury has already committed to phasing out most federal paper checks, citing fraud risks, high costs, and delays compared to electronic payments. This move isn’t just about government efficiency—it’s setting a clear example for businesses: the future is digital.

Why Checks Are Holding Businesses Back

Despite being outdated, paper checks remain stubbornly embedded in the way many companies manage business-to-business (B2B) payments. In fact, nearly half of the $20 trillion U.S. B2B market still relies on checks. That means slower access to capital, higher processing costs, and increased vulnerability to fraud.

As SlipStream Technologies CEO Tom Priore recently noted at Fintech South during his interview with Business RadioX Atlanta, “Our biggest competitor is often checks themselves.” While consumers have largely gone digital (80% of consumer payments are now electronic), businesses continue to lag behind—and it’s costing them.

Key Takeaways You Can’t Ignore

1. Half of all B2B payments still happen by check—despite being costly and risky.
2. Government mandates are accelerating the move away from paper, creating urgency for businesses to adapt.
3. SlipStream’s Payables solutions (CPX + Plastiq) are designed to help companies transition from checks to smarter, digital payments.
4. Digital payables deliver speed, safety, and cost savings—giving businesses a competitive edge.

How SlipStream Financial Is Leading the Change

At SlipStream Financial, we’ve built solutions specifically designed to solve the “check problem.” Our Payments Engine integrates banking, payments, and payables into one seamless platform, enabling businesses to collect, store, and move money digitally.

This isn’t just theory—it’s our practice. As SlipStream Financial President Miles Busby puts it:

“We haven’t paid a single vendor with a check in over three years—while paying thousands of vendors every month.”

That’s the power of connected commerce in action.

The Path Forward

The decline of checks won’t happen overnight—but it’s already underway. Workforce turnover, lessons from the pandemic, and government mandates are all accelerating the shift. Businesses that wait risk falling behind.

SlipStream Financial is here to make the transition easy—helping companies move money faster, reduce costs, and even generate new revenue streams through virtual card rebates, a commercialized version of consumer “cash back.”

The end of paper checks is near. The real question is: Are you ready to leave them in the past?

👉 Explore how SlipStream can help you modernize your B2B payables: www.slipstreamfinancial.com

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Why It’s Time to Move Beyond Paper Checks in B2B Payments

Paper checks are costing businesses time, money, and security. While consumers have already gone digital—over 80% of consumer transactions are electronic—businesses are still stuck in the past. Nearly half of the $20 trillion U.S. B2B payments market is still processed by check.

It’s not just inefficient—it’s risky. And with the U.S. government phasing out most federal paper checks, the message is clear: the future of B2B payments is digital.

The True Cost of Paper Checks

For decades, checks were a default choice in business transactions. Today, they’re one of the biggest barriers to efficiency.

• High costs – Issuing a check costs businesses several times more than digital payments.
• Fraud risks – Paper checks remain one of the most common vehicles for payment fraud.
• Delays – Checks mean slower settlement times and slower access to working capital.

Treasury officials have already acknowledged these risks, and by moving away from checks themselves, the federal government is setting the standard for the private sector.

Why Businesses Must Act Now

At the Fintech South Conference, SlipStream Technologies CEO Tom Priore summed it up well:

“Our biggest competitor is often checks themselves.”

That insight hits hard—because while consumers have embraced digital, B2B payments are lagging. Businesses that continue relying on paper checks risk not just higher costs but also losing their competitive edge in a marketplace that increasingly values speed and security.

Key Takeaways for Business Leaders

1. Half of all B2B payments still happen by check, despite costs and fraud risks.
2. The U.S. government is phasing out paper checks, forcing digital adoption.
3. SlipStream Financial Payables solutions (CPX + Plastiq) are helping businesses transition seamlessly.
4. Digital payables improve efficiency, reduce fraud, and save money.

How SlipStream Financial Solves the B2B Check Problem

SlipStream Financial has built a Payments Engine designed for today’s connected commerce. By integrating banking, payments, and payables into one platform, SlipStream makes it easier for businesses to:

• Move away from paper checks.
• Pay vendors digitally, securely, and at scale.
• Unlock virtual card rebates—a commercialized version of “cash back” for businesses.

And this isn’t just theory. As SlipStream Financial President Miles Busby explains:

“We haven’t paid a single vendor with a check in over three years—while paying thousands of vendors every month.”

This is what the future of B2B payments looks like in practice.

The Road Ahead: Digital Payables as a Business Advantage

The decline of checks is already happening, driven by:

• Generational turnover in the workforce.
• Pandemic-era lessons on the need for digital agility.
• Government mandates phasing out checks.

Businesses that modernize now will gain faster payment cycles, stronger fraud protection, and better visibility into cash flow. Those who wait risk being left behind.

Ready to Leave Paper Checks Behind?

SlipStream Financial helps businesses make the transition to digital payables with solutions that:

• Accelerate payments.
• Reduce operating costs.
• Unlock new revenue through virtual card rebates.

The end of paper checks isn’t a question of if—it’s a question of when. The smart move is to act now.

👉 Discover how SlipStream can help you modernize your B2B payables today:
www.slipstreamfinancial.com