After failing to find a suitable paper-based alternative, the Payments Council has put plans to phase out cheques on hold. Cheques will still be an accepted form of payment until 2016, which will be welcome news to the charities and elderly people who are the main users of cheques.
Richard North, head of the Payments Council, said:
"There is no question of there being a closure of the cheque clearing system without there being alternatives in place which are widely in use."
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