"We have the prospect of what might become a huge market, but now there's none." Indeed, while business-to-business commerce and financial electronic data interchange
have taken off to some degree, on-line retail commerce, particularly for microtransactions, has been slow out of the starting gate - despite last year's furious hype.
Since domestic clearinghouse processing is batch-oriented, it's well-suited to high-volume, low-value payments, which include direct deposit of payroll; Social Security; pensions, annuities and dividends; financial electronic data interchange
; direct debits; electronic bill payment; and point-of-sale, electronic, tax, government and commercial vendor payments.