In particular, they noted that the Federal Reserve serves certain market segments that may not yet have demonstrated adequate market competition, specifically, providing check and ACH services to low-volume banks and providing check services to banks throughout the country that need to collect checks drawn on small, remote banks.
Third study on “Payment behaviour in Germany”  To ensure that the Bundesbank is able to assume an appropriate level of involvement in the cash cycle and react flexibly, it is important to watch market developments very closely. The cash cycle and payment behaviour are changing in many ways, for example through new business models and new behavioural patterns of the parties involved.