Plastic Trumps Checks in Britain

Cheque payments go on to worsen in the United Kingdom as card minutes increase, according to United Kingdom payments association Apacs.

It establish plastic card game accounted for 65 per cent of all United Kingdom disbursement last year, rising by 11 per cent in value in 2007. Meanwhile cheque payments declined by 7.5 per cent in value and 11 per cent in volume.

The greatest growing is in debit entry cards, which have got steadily increased in footing of value by £26bn in the last four years. Recognition card game have got remained static, as have the amount of money paid in cash.

Apacs manager of communications, Sandra Quinn, said as retail merchants halt accepting checks it is expected that a big proportionality of those payments will transmigrate to debit entry card payments. This volition speed up a alteration that is well underway, as the last three old age have got seen debit entry card disbursement rise 31 per cent, with checks disbursement autumn 33 per cent.

She said in a statement: "We are becoming increasingly reliant on on our plastic card game at retail merchants as they offer us convenience, velocity and entree to services such as as cashback facility, which other payments options cannot provide. Different states of affairs lawsuit certain payments and it looks that the high street is truly the topographic point for the debit entry card."