No cash. No cheques.
With many local business owners refusing to accept personal cheques because of a high level of delinquency, Barbados is on the verge of making a full transition to electronic banking.
President of the Barbados Bankers’ Association, David Noel, told the SUNDAY SUN that more Barbadian customers were abandoning cheque books and credit or debit cards with magnetic strips, and moving toward cheque cards and safer chip and pin technology.
“Usually, when there is a tightening of the economy as we have now, there is an increase in delinquency regarding (bounced) cheques, but there are still a lot of businesses accepting cheques across the country,” Noel said. (BA)
Please read the full story in today’s Sunday Sun, or in the eNATION edition.
