2009 may be seen as the beginning of the end for cheques in Ireland. According to IPSO’s 2009 annual report the volume of cheques decreased by over 13%, more than double the reduction in 2008. This brings the decrease to 23% over four years of successive decline.

Pat McLoughlin, Chief Executive, Irish Payment Services Organisation (IPSO) said ’The ultimate end of the cheque for everyday payments is inevitable. This is now recognised in Ireland where the Government approved last year the concept of a National Payments Implementation Plan (NPIP).’

While cheque volumes have declined, cheques are still accounting for 66% of the value of all non-cash payments in Ireland. Ireland is one of very few EU countries with such a great reliance on cheques. The EU average is 3%. You can find the IPSO 2009 Annual Review over on ipso.ie.

Dave

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