A Brief History of Transactions. Part 2. As told by Prof Participant.

Hello all! Last week on our ticket management and online registration blog we were talking about the death of the cheque. And how our old friend is now looking increasingly frail and decidedly worn out. So, introducing part two of two; A brief History of Transactions. As told by Prof Participant from www.particpant.co.uk the online leaders of event management systems.

Continued from last week....

The final nail in the coffin for our friend, the cheque, was the introduction of the big banks vendetta against the cheque. Vendetta may be a strong word, infact, very possibly used in entirely the wrong context, unless you read the Daily Mail in the UK. Surprisingly enough The DM has refrained from calling the cheque "The last true British institution" or something else equally as sensational, however, their beleaguered defence is of interest.
"Many big stores, such as Tesco and Marks & Spencer, refuse to accept them, and most utility firms impose a penalty on those paying by cheque" Reference

Unfortunately this statement isn't exactly reliable, however it does highlight how some high street companies are beginning to phase out paper for pin. But does anyone actually mind? Cheques are inherently fallible in terms of security, so are there people clinging on to the hope  that we will never see a demise of the cheque?

"We need to give people a choice. I want cheques to be kept. I am sure if you go out and talk to people, they will say they want cheques." Reference

So that's exactly what we at Participant did, out of the few people we asked, not one of them agreed with the above statement. We received opinions that cheques can easily be forged and therefor were untrustworthy  others believed strongly that technology had already taken over, one young person even admitted they had never written a cheque, therefor why should they begin now?

In conclusion, it is apparent that cheques are already obsolete to the younger generation. However! There may well unexpected savior for the cheque, infact, the very nemesis in which the cheque is embroiled in battle with, yes, that's right, technology may well come to the rescue of the cheque. With the rate of advancement of technology it is highly plausible to hypothesize that through new technologies the cheque may find itself being brought back from the brink, although we doubt it.

Thank you for reading, happy eventing!

Prof.