The popularity of debit and credit cards means customers are increasingly shunning cheques, it has been claimed.
A spokesperson for card payment agency Apacs explained that while cheques were still popular for person-to-person transaction such as birthday gifts or paying workmen, consumers prefer to pay for goods with debit or credit cards.
She said: "On the high street, the thing for retailers is that more and more people use [debit and credit] cards every year so they process more of those.
The Apacs representative also stated that there is a generational difference between those who used debit and credit cards and those who use cheques.
Many young people will not even bother to carry a cheque book, she explained, preferring a debit or credit card.
According to research conducted by Apacs around 4.4 million cheques were issued in 2007, compared to 11 million in 1990 - the highest recorded figure.
News Side
Debit and credit cards see off cheques
Fri, 22 Feb 2008
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