RETAIL EFTPoS 90: PAPER HOLDS OUT AGAINST PLASTIC

A summary of the Retail EFTPoS 90 conference is given. The conference highlighted many developments over the past 12 months in the progress of EFTPoS UK, and was enthusiastic about its future as a leading payment method system for the country′s retailers. News of other payments was also discussed, including a futuristic look at the smart card on the one hand and an overview of how retailers would benefit from the dismantling of the credit card anti‐competitive agreements on the other. Balancing the discussion about plastic payments, a contribution from Transax Financial Services, the UK′s largest cheque guarantee company, drew attention to the continuing presence of the cheque (still Britain′s second most preferred method of payment after cash) and highlighted the increasing requirement for retailers to be able to accept cheques without the risk of fraud.