General > General Technical Chat

Cheques being phased out in Australia by 2030

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tggzzz:

--- Quote from: Bud on October 08, 2023, 09:49:13 pm ---
--- Quote from: nctnico on October 08, 2023, 09:39:25 pm ---
--- Quote from: Bud on October 08, 2023, 09:34:48 pm ---
--- Quote from: Halcyon on October 08, 2023, 08:49:37 pm ---You can walk down to a local office supply store, buy a $30 card reader and start accepting card payments in minutes. Card fees are typically under 2%, or capped at some nominal fee like $4 if the transaction is particularly large.

--- End quote ---
I do not believe it is that simple. There are likely monthly system connection fee. No payment service provider would allow you to jump in that simple.

--- End quote ---
It is that simple (and cheap). You can buy these card readers which connect to a mobile phone app. Prices are as Halcyon indicated.

--- End quote ---
Phones? I have never seen merchants using phones to accept payments. Here everyone is using proper Point-of-Sale terminals. That equipment is regulated by Payment Brands and have payment encryption keys loaded. Not sure what Mikkey Mouse system you guys are using on your phones.

--- End quote ---

Here most street market traders and festival traders use a card reader connected to a cellphone. My daughter sells ice creams that way. There is essentially zero barrier to startups.

I believe this is one of several examples: https://www.zettle.com/gb

tggzzz:

--- Quote from: Halcyon on October 08, 2023, 10:10:55 pm ---
--- Quote from: tggzzz on October 08, 2023, 10:05:47 pm ---
--- Quote from: TimFox on October 08, 2023, 09:30:45 pm ---Many of the above posters not only do not like or use checks themselves, they want to stop everyone else from using them.

--- End quote ---

Precisely.

It would be good to hear from those that use cheques, to find their use-cases.

Banks would like to save money by phasing out cheques. Use of cheques is diminishing, therefore the costs are diminishing - and that reason for preventing cheque use doesn't hold water.

Banks should serve their customers, not dictate how the customers have to behave.

--- End quote ---

I don't think it's just on the Government/banks. Consumer and business habits dictate this.

There is a reason most businesses these days don't use Telegrams, Telex, or even fax for that matter. How long do you go out of your way to support obsolete methods?

--- End quote ---

Since the mechanisms already exist, it isn't "out of your way".

You mention telex. One interesting aspect of telexes is that contracts could be legally enforced if telex comms were used, since the endpoints were rented from trusted third parties. Not so for emails, of course.

You continue to have the mechanisms until all of the use cases can be satisfied by other means. I have indicated a couple of problematic cases.

Backward compatibility is very important. IBM and Microsoft never break backwards compatibility, for sound reasons. There are even some unchanged Win3.1 dialog boxes in Win11!

SiliconWizard:

--- Quote from: Halcyon on October 08, 2023, 10:10:55 pm ---
--- Quote from: tggzzz on October 08, 2023, 10:05:47 pm ---
--- Quote from: TimFox on October 08, 2023, 09:30:45 pm ---Many of the above posters not only do not like or use checks themselves, they want to stop everyone else from using them.

--- End quote ---

Precisely.

It would be good to hear from those that use cheques, to find their use-cases.

Banks would like to save money by phasing out cheques. Use of cheques is diminishing, therefore the costs are diminishing - and that reason for preventing cheque use doesn't hold water.

Banks should serve their customers, not dictate how the customers have to behave.

--- End quote ---

I don't think it's just on the Government/banks. Consumer and business habits dictate this
There is a reason most businesses these days don't use Telegrams, Telex, or even fax for that matter. How long do you go out of your way to support obsolete methods?

--- End quote ---

There are a number of claimed reasons for this move, but it is clearly a strategic governmental plan. It doesn't "just happen".
https://ministers.treasury.gov.au/ministers/jim-chalmers-2022/media-releases/modernising-payments-infrastructure-phasing-out-cheques

DimitriP:

--- Quote from: Bud on October 08, 2023, 09:41:06 pm ---
--- Quote from: nctnico on October 08, 2023, 09:34:16 pm ---Last time I used a cheque must have been nearly 30 years ago. I recall buying my first logic analyser using a cheque but that was one of the last things I paid with a cheque. Nowadays I use my phone to transfer money to somebody directly and they can see the transaction entering into their bank account near realtime. No risk of a cheque received from somebody getting declined or forgetting you wrote one and run out of money.

--- End quote ---
Personal electronic transactions here have limits. To pay big amounts like to replace the roof, do the driveway, instal HVAC equipment, build a fence, etc, it is easier to write a single check then spread payments over several days. Also make contractors happy for same reason.

--- End quote ---

Like somone  said earlier ......   2% to 5% of a "big amount" is still a big amount :)

I always wanted to buy a car and use my card. I got the chance to try it.  Nope. No go. They wanted cash or check. At 11pm at night.
Wrote a check and drove off !
Next time I might try to pay with $1 bills.  :)

tggzzz:

--- Quote from: SiliconWizard on October 08, 2023, 10:42:06 pm ---
--- Quote from: Halcyon on October 08, 2023, 10:10:55 pm ---
--- Quote from: tggzzz on October 08, 2023, 10:05:47 pm ---
--- Quote from: TimFox on October 08, 2023, 09:30:45 pm ---Many of the above posters not only do not like or use checks themselves, they want to stop everyone else from using them.

--- End quote ---

Precisely.

It would be good to hear from those that use cheques, to find their use-cases.

Banks would like to save money by phasing out cheques. Use of cheques is diminishing, therefore the costs are diminishing - and that reason for preventing cheque use doesn't hold water.

Banks should serve their customers, not dictate how the customers have to behave.

--- End quote ---

I don't think it's just on the Government/banks. Consumer and business habits dictate this
There is a reason most businesses these days don't use Telegrams, Telex, or even fax for that matter. How long do you go out of your way to support obsolete methods?

--- End quote ---

There are a number of claimed reasons for this move, but it is clearly a strategic governmental plan. It doesn't "just happen".
https://ministers.treasury.gov.au/ministers/jim-chalmers-2022/media-releases/modernising-payments-infrastructure-phasing-out-cheques

--- End quote ---

That document states, in all seriousness, "As cheque use declines, the cost of supporting the cheque system will continue to increase". That's bovine excrement, pure and simple.

What's happening is that the government is merely enabling banks' strategic plans.

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