Cheques end a giant leap into SA digital payments future

JOHANNESBURG,
(CAJ News) – A BANKING executive has hailed the impending end of cheques is a historic moment for South Africa.
By January 1, 2021, individual consumers and businesses will no longer be able to cash cheques in Africa’s most advanced economy.
“Cheques have been one of the most treasured payment methods by some customers and symbolised a different era of innovation,” said FNB Chief Executive, Jacques Celliers.
“As a result, their necessary discontinuation is a nostalgic moment for us and our customers, however, we believe the future of payments is even more exciting for all of us.”
Celliers disclosed FNB issued its last cheque book in September this year but the journey to migrate its customers to safer and efficient digital payment methods had been running for years.

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