90 Percent Less Cheques in 10 Years: Australia Begins Consultation on Phasing Out Paper-Based Payments

The Australian government has launched a public consultation on the removal of cheques from the country’s payment system. This comes following an announcement in July that outlined the government’s plan to abolish the paper-based payment system by 2030, with the government completely moving to new forms of payment by the end of 2028. The move was part of a strategic plan to modernise Australia’s payment system with digital products. According to the consultation paper (pdf), the sharp decline in the use of cheques made it necessary for the government to remove them. “There has been an almost 90 percent decline in the use of cheques in the past ten years, as people and businesses have swapped to more convenient and faster ways to make payments,” the paper said....