Yes, other countries do have better solutions at present.
In the UK for example, they've just introduced FPS for all small transfers (around £0-£100000, varies with the bank) - this transfers money almost instantaneously between two bank accounts, is low risk as it uses the existing electronic transfer systems, and is free to use. This suits the customers as it is free and very quick (usually within seconds), and suits the banks as they don't have to keep all of that pointless paper around, process cheques, verify signatures etc etc.
There's talk of getting rid of cheques sometime in the next decade in the UK, because hardly anyone uses them any more, I think the first date proposed was 2018 though they've now put it off for a bit.
In the UK for example, they've just introduced FPS for all small transfers (around £0-£100000, varies with the bank) - this transfers money almost instantaneously between two bank accounts, is low risk as it uses the existing electronic transfer systems, and is free to use. This suits the customers as it is free and very quick (usually within seconds), and suits the banks as they don't have to keep all of that pointless paper around, process cheques, verify signatures etc etc.
There's talk of getting rid of cheques sometime in the next decade in the UK, because hardly anyone uses them any more, I think the first date proposed was 2018 though they've now put it off for a bit.