Peter Davey

speaker

323 appearances 2 recordings 1 series first heard Apr 2025 last heard 4d ago

Peter Davey’s voice in public audio — every appearance, attributed to the second.

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Recordings per month over the last 12 months — 1 in all, peaking in Sep 2026 with 1.

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Off the Rails from the U.S. Faster Payments Council - FPC · 24 Sept 2026 Podcast Peter Davey on Killing the Check · 24 Sep 2026 podcast

Where is it going?

And can I actually replace everything with tokenized deposits?

You too.

Yeah, so uh my my dislike for checks uh has come very early out of my career.

I've tried to uh spend my entire career getting rid of the instrument of the check and

You know, as part of that, you know, one of the things I recognize is that people don't use checks because they want to for the most part.

In fact, many of the folks who enjoyed using checks have tried to find ways to stop using checks in in the in their daily lives, um, whether it be forced, uh, because uh, you know, certain supermarkets or whatever don't accept them anymore.

Or whether it be because they've actually found easier ways to move money to the people that they were trying to move money to.

But I think the consternation comes into we still haven't made it as easy.

to do a payment as it is to write a check.

Now, that may be hard for uh our kids, right?

Because uh they don't know how to write cursive anymore and they potentially don't even know what a check instrument is at the end of the day.

But there's a lot of people within our generation, especially on the business side, where if you don't understand or know how to reach your counterparty in a way that's congruent to actually affecting that payment, then the check is actually the easiest mechanism to be able to give them or to put in the mail so that you can say that I've met that obligation.

So we're in this space of

Now we're at the end of the tail end of the check where there are certain requirements that need to be met from a product point of view in order to ensure that we can actually move away from them and hopefully discontinue it at some point within our lifetimes.

Although I'm not getting that faithful or I'm not getting that uh

uh confident at this point uh that we will one hundred percent get rid of them by the time I want to retire.

Yeah, I mean I think the the first is, you know, we've defined it as a negotiable instrument, you know, regardless of how it's printed.

You know, it's gotta have certain characteristics, but we've re we've given it as a negotiable instrument similar to handing somebody cash.

Um, although cash is obviously immediately settled when you give it to them, there's still a process you have to go through with checks.

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