Uruguay digitises cheque clearing in payments overhaul
Cheques represent 81% of the total amount of payments in the first six months
The Central Bank of Uruguay has announced that all cheques will now be cleared electronically – the latest step in the plan to upgrade the country's payment system.
Digital images of cheques will now be used in the clearing process, replacing the physical exchange of paper, therefore "minimising risks and reducing system costs", according to the central bank.
This new measure, which involved the upgrade of the technological system of the financial entities operating in the country and the
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