[Published on 5 May, 1998]
At least three local banks are exploring the possibility of introducing
electronic cheques, a cheap and speedy new Internet-based method of payment.
All a user needs is an Internet-ready computer equipped with a smart card
reader and an e-cheque account. A software program supplied by a bank will
provide the "electronic cheque book". Users can write out and send an e-cheque
with a few keystrokes and the recipient will forward the cheque electronically
to the bank for payment.
And users will not run out of cheques.