Dying cheques mark changing times

Dying cheques mark changing times

Consumers in the UK should expect a revolution in the way they pay for things in the near future, according to payments association Apacs. 

The cheque, which is 350 years old on 16 February, is said to be in irreversible decline as innovation points towards a cashless society. 

Banks will increasingly battle for a consumer to use one card exclusively. 

But as consumers prepare to pay and access accounts using their mobiles, retailers are worried costs will rise. 

Pay date 

By 2015, the number of payments made by cash in the UK will be overtaken for the first time by other ways of paying, according to Apacs.

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