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Decline of cheques tracked by C&CCC

Cheques continue to decline in popularity, the Cheque and Credit Clearing Company (C&CCC) has said.According to the body, the number of cheque payments made per month per UK adult has declined from an average of 2.9 to 1.4 over the past decade.Among other cheque statistics released by C&CCC was the fact that almost half (48.4 per cent) of the payments are worth over £100.Surprisingly, the typical amount of cheques processed each day for one penny and for £1 million was found to be the same: 57.Sandra Quinn, director of communications at APACS and spokesperson for C&CCC, said: "These statistics gleaned from the cheques processed over the course of one day offer an interesting snapshot of Britain's use of cheques."She added: "It is…increasingly clear that many consumers and businesses are acting on the fact that there are quicker and more convenient ways to pay and be paid. This trend is clearly demonstrated by the…growing ensemble of major high street retailers [which] have taken the step of no longer accepting cheques."C&CCC released its new analysis on the third anniversary of Shell's decision to stop accepting cheques in its stores - the first major retailer to do so.

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