Written evidence submitted by the Association
of Cash Machine Operators
I am writing in my capacity as Chairman of the
Payments Council Cheque Replacement Steering Group, Chairman of
the Association of Cash Machine Operators, and Managing Director
of Bank Machine Ltd in response to the aforementioned inquiry
launched by your committee. Given these roles and my position
within the payments industry, I would be pleased to give oral
evidence to the committee.
It is evident that the use of cheques has been
steadily declining over the last decade with the trend only forecast
to continue. A gradual phasing out of cheques will create a more
efficient payment market to support the UK economy. However, there
will remain a significant group of organisations and individuals
for whom cheques remain a vital, and preferred, method of payment.
It is essential that the interests of current cheque users are
taken into account between now and the gradual phasing out that
Part of the Cheque Replacement Steering Group's
role is to sponsor an education process so that current users
of cheques are made aware of other payment options. Many alternative
payment options exist already but new replacements for cheques
must be found for those users who cannot reasonably be expected
to use existing alternatives. The Group will be active in encouraging
replacements for cheques if they prove to be required to meet
I am acutely aware that there are potentially
millions of people who currently depend on cheques and have confidence
in them as a means of payment. The challenge is to ensure that
replacements are created to meet the concerns of these people.
I am confident the Group will achieve this goal and would be happy
to expand on these issues before the committee.