SnapCheck is an open-ecosystem platform for paying anyone anywhere with the familiar form of a check, but without the problems inherent in paper. Over 92% of businesses still prefer to pay vendors and suppliers by check, even though check fraud targets over 70% of businesses.This digital checking solution gives businesses, consumers, and banks the ability to save over $50 billion a year in costs and $20 billion a year in fraud losses.
With over 4,000 banks supported nationwide, SnapCheck connects clients and customers directly to the US banking system.
And as a gift to the planet, by eliminating the 18 billion checks written in the US each year, one million trees could be spared.
SnapCheck was acquired by Payroc in December 2021