Supermarket giant to stop accepting cheque payments
February 8, 2008
One of the UK’s leading supermarket chains is to stop accepting cheque payment shortly, following in the footsteps of a number of other retailers that have now stopped accepting this method of payments. Tesco recently announced that it no longer plans to accept personal cheque payments from customers, joining the ranks of other retailers when it comes to eliminating the time consumption and cost of processing and dealing with cheque payments.
Cheque payments will no longer be accepted at any of the two thousand Tesco stores from 25th February of this year. According to Tesco officials customers will benefit from this move, as it means that there will be faster service and
increased security available for customers as a result of stopping cheque payments. The supermarket giant had already banned cheques from a small number of stores in order to check customer reaction.
One Tesco official stated: “Phasing out the use of cheques in stores will result in quicker service and improved security for our customers.” He added: “We recognise that some people - especially the elderly - might be worried by this change, and this is why we have given customers plenty of notice.”
An official from APACS recently said: “Over the last year or so we’ve started to see a growing number of retailers who have decided not to accept cheques, so we are definitely starting to see the death of the cheque on the High Street.”
She added: “This is a trend that is undoubtedly in response to the fact that so few shoppers now want or expect to pay by cheque, because no retailer would be wanting to take this step if they thought they would lose business.”
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