The advance in technology has rendered the use of a cheque as a payment method archaic. Cheques are an expensive form of payment and over time, have become most susceptible to fraudulent activity. To this end, there are far more effective means to transact that are not only safer but are far cheaper. Kenneth Matlhole at FNB Business says that much of the usage of cheques is largely driven by business-to-business transactions that are steeped in traditional process. “A large portion of … [Read more...] about ReTweet IF you have a Cheque Book, in a drawer, at the back of your cupboard or even if you know what one looks like!
cheque
Why SA needs to pay attention to the global decline in cheques usage
Globally, the use of cheques is consistently declining as financial institutions and most of their customers increasingly adopt technologically advanced payment alternatives that are far more convenient and cheaper. Kenneth Matlhole at FNB Business says in simple terms, cheques convey a written instruction to your bank to pay money from or into your bank account, and due to manual functionality in this process, there are substantial disadvantages that go with this option. “Over the years, … [Read more...] about Why SA needs to pay attention to the global decline in cheques usage
