END OF CHEQUES NEED NOT HINDER BUSINESSES

By blacksteff0

Monday, December 21, 2009, 23:02

Now that the demise of the cheque has been confirmed the Federation of Small Businesses (FSB) is telling small businesses that the technology is available to them that will allow them to accept alternative methods of payment, particularly by card, even if they are a sole trader operating away from an office or shop.

Merchant services, including the provision of remote terminals, are available as part of the FSB membership package.

Chairman of the FSB’s Wessex Region, Ken Moon, said: “It has been known for some time that the use of cheques has been in universal decline. Whilst retailers have been used to card machines for some time, tradesmen, often working in people’s homes or a customer’s premises, Are often not. However these businesses can now use remote terminal machines in the same way as shops to accept payment from customers.”

“Whilst the FSB accepts that consumers may wish to hang on to the option of writing a cheque it is not always the best method of paying for goods and services from a supplier’s point of view. Cash is King, certainly, but that is metaphorical for cash flow and cheques can take time to clear. Also, for the younger generation, cheques are a rare thing to use so businesses need to be on the ball when it comes to new technology and methods of payment,”

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