When someone uses the term ‘cashless society’ we think of the demise of coins and bank notes. The use of physical cash has declined in recent years, but who would expect the check rather than coins and bank notes to go extinct due to the rise of cashlessness?
According to a Reserve Bank of Australia 2022 survey, transactions involving paper checks make up a mere 0.2 percent of all financial transactions. Consumer payments using checks were half of this figure. The Australian Banking Association indicated paying by check has declined by
