The payments industry hit the national headlines today, with the news that cheques will be phased out in the UK by 2018.

Click here for the full story on the BBC website. For businesses in particular, who often rely heavily on cheque payments, the end of the cheque could start the beginning of a new way to collect payments.

Although many highstreet retailers (including all the major UK supermarkets) no longer accept payments by cheque, business and trade merchants have been slower to follow. This is despite the fact that, according to Matthew Goodman from the Forum of Private Business, "Cheques are generally the MOST EXPENSIVE payment method for businesses to process and these costs are only set to rise as fewer and fewer people use them." Make it easier for your customers to do business with you.  If you're still accepting payments from your business customers by cheque, now might be a good time to start thinking about making it easier (and cheaper) for your customers to do business with you.  Take the hassle out of business credit accounts. As well as giving your customers the convenience of paying by Direct Debit, an own brand Account Card makes it easier for your customers to buy from you, with:

• Extended credit facilities - for improved cash flow and management
• Rapid account opening - on-the-spot credit decisions let you stay in control
• Instant spending power - Instant Cards let customers spend straight away
• Online account management - just like a bank account or credit card
• Simplified expense management - with a single monthly statement
• Quicker purchasing - reduced transaction times mean happier customers

If your business could benefit from cutting costs, while making it easier for your customers to purchase, speak to G-T-P about our business Account Card services.