Realising 2025 cheque-free goal needs concerted effort by all banks

SINGAPORE wants to phase out the use of cheques by 2025, which is but a mere six years away. Even in this era of rapid advances in technology and their mass adoption, it is an ambitious target.

Despite the proliferation of electronic payments including the national fund transfer service PayNow and PayNow Corporate, many individuals and businesses have continued to cling onto the traditional mode of physical payments i…