The federal government hopes to receive the necessary feedback to implement a smooth and orderly transition to alternative forms of payment.
The Australian government has launched a public consultation on the removal of cheques from the country’s payment system.
The move was part of a strategic plan to modernise Australia’s payment system with digital products.
“There has been an almost 90 percent decline in the use of cheques in the past ten years, as people and businesses have swapped to more convenient and faster ways to make payments,” the paper said.
“As cheque use declines, the cost of processing a cheque will continue to increase.”
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Via the consultation, the federal government hopes to receive the necessary feedback to implement a smooth and orderly transition to alternative forms of payment.
To achieve this…
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