Check Payments
Check payments refer to a traditional method of transferring funds using a paper document (a check) that instructs a bank to pay a specific amount from one party's account to another. It involves processes like writing, depositing, clearing, and settlement, often integrated into banking and financial systems. In modern contexts, this includes digital equivalents like electronic checks (e-checks) and automated clearing house (ACH) transactions.
Developers should learn about check payments when building or maintaining financial applications, banking software, or payment processing systems that handle legacy or hybrid payment methods. It's essential for roles in fintech, e-commerce, or accounting software to ensure compliance, security, and interoperability with banking protocols, especially in regions or industries where checks are still prevalent.