Paper (checks) or Plastic (cards)

We hear all the time that checks in Europe are dead, but according to a new study from Visa, they’re still on life support —but going fast.

Visa, in a survey it commissioned of retailers in Western Europe, found that more than 20 percent of retailers do not accept checks (er, “cheques”) – and predicts that in a trend hastened by the adoption of cards and mobile payments, 60 percent will no longer accept checks by 2015.

Up to three-quarters of merchants in Sweden, Norway, the Netherlands and UK will be passing on paper by then, according to the study from the Center for Retail Research. Contactless payments will have a major impact, with 32.7 percent of stores accepting phone-enabled payments; 26.4 percent accepting contactless cards; and 19.1 percent key fobs or tags.