Fraud is a serious risk that companies face in this complex global business environment. A 2008 study has shown, nearly 1/3 of companies had experienced a fraud in relation to payments. Switching to an EFT solution such as B4B, which includes PGP (Pretty Good Privacy) Encryption as an option as appose to relying on cheques and manual payment processes can provide reassurance, better security and complete knowledge of payments being made.
Research shows the cheque/check will be non-existent in the next decade although the US is holding on quite strongly. EFT is becoming the method of payment most countries are currently using, particularly the UK.