GREAT NEWS THAT TECHNOLOGY COULD HELP ENSURE THE FUTURE OF CHEQUE PAYMENTSTuesday 14 February 2012
Commenting on the news that academics have developed an electronic cheque payment system, Ros Altmann, Director-General of Saga, says:
GREAT NEWS THAT TECHNOLOGY COULD HELP ENSURE THE FUTURE OF CHEQUE PAYMENTS
“This is good news for older people as it could help to ensure that the notion of phasing out cheques is never again tabled. Millions of over 50s still use cheques regularly, our independent Populus research showed 67% of older people disagreed with the banks’ plans to phase out cheques. This opposition rose steadily with age to 78% for the 75 and over age group, which may reflect a greater dependence on cheques in the older age ranges.
Eight per cent – around two million over-50s - said they would not manage at all to pay some of their bills if they did not have cheques.
As well as being a practical system to which they have become accustomed, older people also feel that cheques give some comfort that there's proof their money is moving around under their control. And if, for instance, they want to send their grandchildren a birthday gift, donate some money to a small charity or pay their plumber, anything that helps to ensure they will be able to continue to with the convenience of cheques is to be welcomed.”
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