By Marcus Leach
The doing away with of cheque guarantee cards is being reviewed and could lead to a return of the scheme.
The Payments Council, have said they are looking at whether shops were less likely to accept cheques as a result of the guarantee card being scraped.
“Today’s Treasury Select Committee report asks for further details about the Cheque Guarantee Card Scheme closure," Adrian Kamellard, Chief Executive of the Payments Council said.
"As already confirmed to them, we are on track and awaiting the results of the independent consumer and business research that we have commissioned to measure the impact of the closure. We will be publishing this research before the end of the year as well as sharing it with the Treasury Select Committee and, depending on what the research shows, setting out our next steps.
“We also welcome the Government’s forthcoming consultation to consider a regulatory framework for payment systems and will work closely with the Minister and HM Treasury.
"For us it’s a timely point to shine a light on payments regulation as only last week we also launched a consultation to review our governance arrangements. This important review, agreed with the Office of Fair Trading, will look at how we consult and engage with different stakeholders and whether we are delivering strategic direction for the payments industry.”
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