According to this article on Mint.com, in the near future, there will be no paper checks in use in the United Kingdom. The banks have gathered together and decided to suspend the processes by which paper checks are verified by the year 2018.
Not only is this an acknowledgment of the archaic nature of many of our existing banking procedures, but it’s also a tacit endorsement of electronic banking in general… and by extension, eCommerce. After all, if electronic banking is secure enough to entirely replace the paper-based system, then the industries that rely heavily on eBanking (online commerce, for instance) should certainly become less frightening to those who have their doubts about their cyber security. These people are more commonly known as “Grandma” and “Grandpa”.
