Optimising government payment processes
Exploring Cheque Use in New Zealand
The use of cheques in New Zealand has been decreasing over time, but a number of individuals and organisations continue to use them, despite rising costs and an ever wider variety of alternative payment methods. This has the potential to create problems, as the declining use of cheques is undermining the overall sustainability of the infrastructure and systems that support cheques.
The Problem
As cheque use decreases the cost of processing increases. Cheque printers are being impacted by low-level demand and the technology used to process cheques in New Zealand is expiring. At the same time, a bank recently announced it will stop issuing and accepting cheque, which will disrupt the overall system further.
The Approach
The Westpac NZ Government Innovation Fund commissioned a project to explore this issue from a human-centred perspective. The aim of the project was to produce a base of actionable insights that can be used by banks, businesses and government agencies to help transition people to less expensive and ultimately more durable and sustainable payment services. The report is attached.