U-turn over plans to phase out cheque payments forced

The Forum of Private Business (FPB) is welcoming the Payments Council’s new National Payments Plan, announced this week, in which it agrees not to phase out cheque payments until adequate alternatives are in place. Research carried out by the FPB at the end of last year revealed that most of the smaller businesses surveyed want market forces to determine when they should switch payment methods.

• nshapiro73 says:
• Inter business payments may be able to phase out cheques; However payments from consumers for small (non-retail) businesses are almost entirely by cheque. More options on how non-retail businesses receive payments need to become available.