UK businesses and consumers cannot get enough of Faster Payments: single immediate payments grew by 42% and forward dated payments by 47% whilst cheques declined by 13%. At this rate cheques could disappear within a decade, that clearly won’t happen but when will the decline slow?

UK Clearing statistics August 2013

Source & Copyright©2013 - Payments Council

The figures also show that basically there has been no growth throughout the economy over the last 12 months.