The practice of paying by cheque might not be on the way out after all – as long as you have a digital pen and computer. An electronic cheque developed by British academics offers the convenience of the traditional system, while eliminating much of the processing and transport costs involved which so irritate banks and retailers. The paper tech-cheque book looks and works much the same as the one used for generations.

However, each cheque is written with a special pen which has a tiny camera to record any strokes made against millions of tiny dots printed on the surface. The user then hands it over, and fills in the stub for their own records. When they return home, the pen sends the details via a wireless link to their bank....Read more here--: The electric cheque: Updated version of payment method could ensure its survival