Checking

The bank said the account is geared to consumers who want better control over their spending or are new to banking.

Members who use the account, which should be available starting in 2021, will manage it through Google Pay.

Suppliers that still need to receive physical checks should still be able to do so. Even if they do, the process remains electronic on the accounts payable side, says AP side so that customers can issue check payments in the same batch as other electronic payments, says Nvoicepay's Angela Anastasakis.

Decentralizing staff makes strong internal controls even more important, Josh Cyphers and Derek Halpern of Nvoicepay write.

Even digitally savvy organizations face a vexing dilemma when sending emergency funds: The neediest recipients often have little other option than to receive paper checks.

There are several ways the coronavirus has shown that traditional manual, paper-based AP processes are not up to the task in 2020 and beyond.

A new program is intended to reach individuals without a fixed address or checking account more easily access COVID-19 relief funds — and hopefully keep those consumers as members.

Recent tweaks to Reg D have blurred the line between checking and savings accounts, opening up the possibility for new innovation in those products.

The widespread impact from coronavirus could turn out to be a forcing mechanism that expedites innovation and adoption as businesses around the world look to overcome a new, shared, set of challenges, says Billtrust's Justin Main.

Lots of consumers are using mobile checking for the first time, so it's important to provide extra help, says Mitek's Michael Diamond.