Hong Kong banks to study heavy cheque users with eye on phase-out

Quick Summary:

Work with 10 heavy cheque-using sectors including SMEs, charities and brokers will help identify barriers to electronic payments, HKAB says.

Stockbrokers have started to shift to electronic payments, said Tom Chan Pak-lam, honorary president of the Institute of Securities Dealers.

Other markets such as the UK, Australia and Singapore are also trying to reduce the use of cheques.

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Article Details

Author / Journalist: Enoch Yiu

Category: Business

Markets: Hong KongAustraliaOmanSingapore

Topics: Electronic Cent Payments Cheques Stockbrokers Industries Using Month Year Million Other

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-12-09 @ 20:45:12 (2 weeks ago)

News Timezone: GMT +8:00

News Source URL: scmp.com

Language: English

Article Length: 280 words

Reading Time: 2 minutes read

Sentences: 9 lines

Sentence Length: 32 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © SCMP

News ID: 24276183

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Official Website: scmp.com

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Headquarters: Hong Kong

News Last Updated: 11 hours ago

Coverage Areas: Hong Kong

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