June 22, 2024

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Payments Embracing Blank Checks

2 min read
The Time Is Now For Electronic B2B Payments

The blank check deals market has been growing with rapid advances in recent years. It’s experienced huge growth. Here’s what you should know about the current state of affairs in the market and about SPACs, which are also referred to as “blank check companies.” Also, let’s see how eMerchantBroker.com can help you with secure payment processing. 

Blank Checks & How eMerchantBroker.com Can Help 

Think of a blank check as a check that an authorized check signer provides and on which you can later enter information like date, payee, amount. The interest in the market is growing, and you might have already heard about Special Purpose Acquisition Companies (SPACs) representing a new way to go public on Wall Street. 

The current state of the financial industry is further fueling the market growth. Months ago, the biggest ride-hailing and food delivery company in southeast Asia merged with a SPAC, Altimeter Growth Corp. Thus, this has turned into the largest blank-check company deal in the U.S.

COVID-19 has accelerated the trend of paying for goods over the internet and avoiding the use of cash. Digital payments. Online payment transactions are only increasing. Businesses go on digitizing their operations, thus facing the increased risk of keeping money transfers secure. 

Given the current rise in payment digitization, it’s more pivotal to use cutting-edge payment processing technology from a respectable provider like eMerchantBroker.com to avoid payment fraud and risk. This issue can’t be left in ignorance as check fraud goes on costing companies billions. 

Blank Checks in Payments 

In fact, SPAC deals have already reached higher values than anticipated. E.g., United Wholesale Mortgage Group reports of $16 Billion, Lucid Motors $24 billion, Grab $40 billion. And the trend isn’t going to stop growing. 

Based on NASDAQ listings, the year 2021 has witnessed a higher market share, which has already made up 73%. According to a venture capital company’s founder, SPACs’ higher level of growth means providing an initial public offering (IPO) on their own. 

So, payments are fast moving towards blank checks. Blank check companies or SPACs are reporting high growth and are of huge interest in the industry these days. 

Author Bio: Blair Thomas has been a music producer, bouncer, screenwriter and for over a decade has been the proud Co-Founder of eMerchantBroker.com, the highest-rated high risk merchant account processor in the country. He has climbed in the Himalayas, survived a hurricane, and lived on a gold mine in the Yukon. He currently calls Thailand his home with a lifetime collection of his favorite books.

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