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18th of July 2011
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News Tag: usage

July 12, 2011

Cheques will not be scrapped, say Payments Council

by Kay Mitchell
”Cheques
It has been announced today that cheques will not be phased out after the Payments Council announced it would abolish them in 2018. The Council has now decided to keep them after criticism from MPs and charities and was forced to make the u-turn after pressure from the public. Richard North, the chairman of the Payments Council, said: "It's in the ...




June 27, 2011

Credit card usage falls sharply

by Kay Mitchell
”Credit
The British Retail Consortium (BRC) has today reported a fall in credit card usage as consumers look to cash and debit cards for their purchases. According to a survey by the BRC, which represents 90% of the UK's stores, shoppers are opting to use their debit cards and cash to avoid borrowing. However, the number of transactions involving cash fell, although the average ...




December 3, 2010

Debit card usage surges in UK

by Kay Mitchell
”Debit
The UK Payments Council, the body which oversees the strategy on payments systems, has said debit card usage has surged in the last year. For the first time ever, consumers are opting to use their debit cards more than coins and notes, figures revealed today. According to the Payments Council, spending on debit cards totalled £272 billion in the year to the end ...




November 3, 2010

MP launches campaign to save the chequebook

by Kay Mitchell
”MP
David Ward, the Liberal Democrat MP for Bradford East, has launched a campaign to save the chequebook. The campaign comes after the UK Payments Council voted to phase out cheques on 31 October 2018, but stated that cheques will not be phased out until an “accessible and acceptable” alternative payment system is introduced. Cheque usage continues to decline as consumers opt to ...




September 9, 2010

Cheque usage continues to decline in Q2

by Kay Mitchell
”Cheque
The UK Payments Council, the body which oversees the strategy on payments systems, has said cheque usage continues to decline as consumers opt to use debit cards. In the April to June period, an average of 290,000 fewer cheques were written each day, a fall of 10% compared with the same period last year. The Council said usage of the debit card ...




December 16, 2009

Cheques to be phased out by 2018

by Kay Mitchell
”Cheques
The UK Payments Council has today voted to phase out cheques on 31 October 2018, but has pledged to "promote and explain" alternatives over the next 9 years. The use of the cheque book has been in decline for many years as consumers opt for quicker payment methods. Major retailers such as Tesco and Sainsbury’s no longer accept cheques, arguing that ...




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