The forecasted data shows a declining trend in the number of cheque payments per inhabitant in the US from 2024 to 2028, with a decrease from 30.18 in 2024 to 20.43 in 2028. This indicates a consistent reduction in cheque use, aligned with prior trends seen in 2023 and earlier, when the number stood at 32.71. The year-on-year percentage decline approximates -8.3%. The compound annual growth rate (CAGR) suggests an average annual decrease of -9.27% over these five years.
Future trends to watch include the accelerating shift towards digital payment methods, influenced by technological advancements and consumer preference for convenience. The continued decline in cheque payments could prompt financial institutions to focus more on enhancing digital payment systems and security.
