Electronic chequebook new system designed to save cheques

Researchers at Newcastle University who developed the technology claim it would allow electronic transfers for people who don’t or can’t use conventional internet banking and remove the cost to banks of processing paper cheques.
To make a payment, a user writes a cheque from the book with a digital pen that captures the transaction details and transmits them to the payee’s bank account, leaving the user with a physical cheque they can use as they wish.
Now a team of academics has developed a system which has the benefits of easy, electronic money transfer while preserving the physical attributes of something that is handed to the payee............
Read Full Article Here