| If some predictions are to be believed, we will be living | | | | be embraced with minimum fuss. After all, in the build |
| in a cashless society by no later than 2012. This may | | | | up to Christmas it is estimated that UK credit cards will |
| not come as a major shock, given the current trend in | | | | account for around a fifth of all spending this |
| online shopping and the ubiquity of 'chip-and-pin' on the | | | | December. Furthermore, 1 in 10 people still carry credit |
| High Street. But where does this leave the trusty | | | | card debts from LAST Christmas. |
| chequebook - once a staple part of British consumer | | | | So, while it seems that carrying plastic is definitely the |
| culture? | | | | way forward for the 21st century consumer, it would |
| Well, being paper-based, cheques are more expensive | | | | also seem that seeking out the best credit card deals |
| for banks to process compared to electronic methods, | | | | is a wise move, given many people only manage to |
| so a gradual shift away from cheques in many | | | | cover the interest-payments. Fortunately, in the |
| European countries has become the norm in recent | | | | consumer-centric internet age, there are web sites |
| years. This 'discouragement' usually comes in the form | | | | dedicated to the cause, and will compare credit cards |
| of extra charges for using cheques or making the | | | | for factors such as interest rates on purchases and |
| alternative payment options more appealing. And, of | | | | balance transfers. Indeed, many credit cards offer 0% |
| course, the wide-spread use of ATMs and | | | | on balance transfers and interest-free periods on all |
| chip-and-pin in most outlets has meant there is little | | | | purchases, making it an extremely worthwhile venture |
| need to have a cheque-book these days. | | | | to shop around for the best credit card deal. |
| Indeed, many high-profile retail outlets such as | | | | With cheque-books more-or-less becoming a thing of |
| Sainsbury's, Asda and Boots now don't accept | | | | the past, consumer culture in the UK is moving |
| cheques at all, as relatively few people use them and it | | | | ever-closer towards 'paper-free' payments. Whilst |
| is very time-consuming to process them. And this will | | | | predictions suggesting we could be entirely 'cashless' |
| only serve to push even more customers towards | | | | by 2012 may be a little premature, the fact remains |
| paper-free payments. | | | | that it certainly looks a safe-bet at some point in the |
| But credit cards have been around for long enough | | | | future, with online shopping slowly becoming the norm |
| now for this seemingly inevitable cashless-society to | | | | and chip-and-pin commonplace in most retail outlets. |