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In many Western countries, cheque usage has been declining for decades; the only question is how fast the decline will continue. But in some areas of the world, cheque volumes are holding steady, or even rising, in direct contradiction to the global trend.
What are the reasons behind this unusual phenomenon? Mainly, it occurs in developing countries, where huge numbers of people (and businesses) have moved out of the ranks of the unbanked and joined the formal banking system. This often comes along with rapid expansion of infrastructure and general economic growth. We take a look at developments in India, Nepal, Vietnam, Cambodia, Indonesia, and the Philippines to examine the rise of this payments anomaly.
(Homepage photo credit: monito.com via Creative Commons 2.0)
The Reappearing Cheque: Why Cheque Usage Is On the Rise in Some Developing Countries
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