2009 may be seen as the beginning of the end for cheques in Ireland. According to IPSO’s 2009 annual report the volume of cheques decreased by over 13%, more than double the reduction in 2008. This brings the decrease to 23% over four years of successive decline.

Pat McLoughlin, Chief Executive, Irish Payment Services Organisation (IPSO) said ’The ultimate end of the cheque for everyday payments is inevitable. This is now recognised in Ireland where the Government approved last year the concept of a National Payments Implementation Plan (NPIP).’

While cheque volumes have declined, cheques are still accounting for 66% of the value of all non-cash payments in Ireland. Ireland is one of very few EU countries with such a great reliance on cheques. The EU average is 3%. You can find the IPSO 2009 Annual Review over on ipso.ie.

Dave

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WorldNet TPS have completed an investment round with US payments industry expert David Dove, for an undisclosed sum. Mr Dove is a 25 year Payment Industry veteran, having founded and run the Dove Consulting Group, a recognised leader in providing consulting services to the broader strategic questions faced by banks, transaction processing companies, networks and financial services technology companies It was also announced that Mr. Dove will join the board of WorldNet. More information available on the WorldNet blog.

Dave

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