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But we voted for their unbalanced and uninformed contributions to debate.
1 in 200 cheques bounces - these don't appear on the cheque fraud statistics because they may not have been forged or "converted". They may just be written by people or companies with insufficient funds. This can be an offence but it is rarely prosecuted. The disruption to trade is out of all proportion to their convenience. It would be far better to have a comprehensively available electronic payments system.
This will not now happen because politicians have started meddling. 2018 was set as a date far enough away to allow solutions to come forward in the knowledge that there was a market to develop with some certainty.
I also note that the politicians want to force banks to allow their customers to have chequebooks. At least we are not going to be forced to accept them.
This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author.
Ruchi Rathor Founder at Payomatix Technologies
11 June
Zurab Ashvil Founder & CEO at T3RRA Ltd
09 June
Bekhzod Botirov Сo-owner and member of Supervisory Board at PayWay
06 June
Priyanka Rao Content Strategist at Jupiter Money
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