ACS (the Association of Convenience Stores) has responded to a HM
Treasury call for evidence, calling on the Government to take
urgent action to secure long-term access to cash.
In its submission, ACS makes a number of key recommendations,
including:
- Restoring the independent setting of LINK interchange fees
for ATMs
- Guaranteeing retailers with fair renumeration for offering
cashback services
Findings from the 2020 ACS Local Shop Report show that around
half of convenience stores (49%) offer free to use cash machines,
88% offer contactless payments and 68% offer cash back with a
purchase.
ACS chief executive James Lowman said: “Local shops play a key
role in providing customers with access to their cash, from
providing free to use ATMs to offering cashback. Cash is a widely
used and essential payment method for millions of people in the
UK and it is vital that any Government intervention serves to
support access to cash for consumers, as well as enabling
retailers to continue offering these services to their
communities.
“This call for evidence is timely, allowing ministers to look at
the whole picture and to plan for a sustainable future for cash,
with local shops playing an important role in that.”
The Government has previously committed to bring forward
legislation to protect access to cash for consumers in the 2020
Budget.
The full submission is available
here.
