About half of large businesses are planning to reduce their use of checks in favor of commercial payment cards, according to a study released Thursday by Visa Inc.
The San Francisco payments company found that 45% the international companies surveyed plan to increase their card use during the next 12 to 18 months and 52% plan to reduce their use of checks.
Many respondents said that cards make it easier for them to keep track of their receivables and to manage expenses.
The Visa Global Cash Management Survey, conducted by Survey.com, questioned 800 cash management executives at companies in 11 countries. Most U.S. respondents were from companies with annual revenue exceeding $500 million.