Select Committee on Treasury Minutes of Evidence

Letter from Association for Payment Clearing Services (APACS)

  I enclose a copy of in brief 2000 [Not printed] which contains a wealth of data about money transmission in the UK and APACS' forecasts of likely developments over the next decade.

  These trends are of great interest at a time when the use of cheques is declining quite rapidly whilst plastic card and electronic payments are growing in popularity. At the same time, e-commerce, phone banking and trading over the Internet are booming and, although payment activity is currently modest, APACS forecasts that, in 10 years' time, two-thirds of the UK population will be using remote banking services.

5 September 2000

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