By John Glenday

UK banks are to begin allowing people to pay in a cheque simply by taking a photo of it on their smartphone after the government after the government announced new legislation to introduce the photo-cashing system.

The time-saving measure promises to reinvigorate the market for cheques, which accounted for £840bn of transactions in 2012, by allowing customers to process them without the need to leave their home or office.

Steven Roberts of Barclays, which has already trialled the system, said: “This is an opportunity to move cheques into the 21st Century, to reduce costs and make banking easier and more Read full story ›

Source: The Drum