Parliament has approved the phasing out of cheque payments after passing the Bills of Exchange (Amendment) Bill, with government touting the reform to accelerate digitisation and modernise Malawi’s payment systems. He said cheque usage had declined significantly while several countries in the region had already abandoned the payment method in favour of digital platforms. “The Bill of Exchange is saying let’s now use modern ways of payment as opposed to issuing of cheques,” said Mwanamvekha. He said although cheques had played an important role in Malawi’s financial system, they became vulnerable to fraud, forgery and counterfeit while also causing delays in transactions. “Cheques have really served us, but in some ways have been found wanting.