New technology could be used to save the cheque!
It looks as though the cheque may be saved by the introduction of new technology.
A team of academics has developed an electrical cheque which looks the same as the traditional cheque, but uses a digital pen.
The account holder writes out the cheque in the same way as normal, but uses a digital pen which ‘reads’ the cheque as it is written. When the cheque has been completed, the user ticks a box, which is the only difference to a normal cheque, and the information is transmitted directly to the payee’s bank account.
This avoids the problems that cheques are expensive to process and need to be stored afterwards that are encouraging the banks to discontinue their use.
The new electrical system could help to preserve the cheque, and allow people to continue using it as their favoured method of payment.
The new technology, which was developed by a team from Newcastle, York and Northumbria Universities, after consulting a group of 80-year-olds from Tyneside, will be presented at the Computer Supported Co-operative Work conference in Seattle, in the US.
Michelle Mitchell, Charity Director-General of Age UK, said:
“We are delighted these researchers asked older people what they need and want in this critical part of daily life, paying bills and making payments.
“Hopefully banks will see the potential and invest in this kind of innovative design which preserves what many people find invaluable about cheques but also makes the most of modern technology.”
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