Hello readers. Please note the discussion will start at 1 p.m. Feel free to leave your comments and questions, but note they won't appear right away as this is a moderated discussion.
I want to welcome our guest, Steve Nogalo of NCR in Waterloo, to this chat. How are you today?
Let’s talk about the advantages: Does that allow the person cashing the payment to have immediate access to the cash?
So, who do you think this technology will work best for? Small business owners such as contractors, painters and landscapers?
A reader, tsunami 11, left this comment in advance: Cheques' days should be numbered, but it won't happen yet. Cheques are not a secure form of payment, especially if you mail them anywhere. Your cheques also list your home address (if personal cheques) and full account information. Electronic payments are safe and you settle your debts faster. Do you agree?
Let’s talk about the drawbacks: While mobile banking on smartphones is being adopted at a faster pace than online banking was when it was introduced about 16 years ago, some people still have security fears.
What steps can you take to ensure that your banking information isn’t compromised?
To clarify, Steve, if you don’t have a smartphone, can you scan cheques on a home computer?
You mentioned, Steve, that American banks are already using photo cheque cashing. How is that working? Is it popular?
There seems to be a generational divide on this question. Another reader, bcmanbc, writes: Overheard at the local high school: “What’s a cheque?” Do you think photo cheque cashing will be readily accepted by younger people?
Bub The Slug writes: Just because someone thinks that cheques are not relevant in today's society they will disappear it has no reason to. Millions still use cheques other than to pay bills, I use them to prepay my rent for a whole year, to donate to charities and my church. Just because someone doesn't use his cellphone to pay the bills is no reason to think they are going the way of the Model T.
Sorry, Steve, I jumped the gun on your response to the generational divide question. (Must lay off the caffiene on this end.)
And what do you have to say to Bub The Slug and his preference for paper cheques?
The Duffer writes: Paper cheques are not obsolete so far as I'm concerned. I've been paying my bills by cheque for over 35 years now. They continue to work just fine.
The main difference between paying my bills with cheques and using a smartphone is that I don't need to have a contract with Rogers or some other 3rd party service provider when I pay by cheque.