Lloyds, Visa launch pilot scheme for cashback offers

Thursday 21 February 2019 13:01 CET | News

Lloyds Banking Group has teamed up with Visa to launch a pilot scheme designed for retailers that want to offer cashback to customers in their stores.

The scheme is aimed at creating availability where access to cash is challenging and customers will still have the choice to pay with their cards and mobile devices as they do today.

The cashback incentive will target areas of the UK where access to cash is difficult, such as rural or less-affluent areas which often rely on a very small number of ATMs.

According to the banking group, millions of people across the UK continue to rely on cash. For the majority of the population, cash remains easily accessible via 50,000+ free-to-use ATMs, 7,000+ bank branches and 11,500+ Post Offices. However, for those looking to access cash in more remote or isolated locations, the options available to withdraw money are often less convenient.

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Keywords: Lloyds Banking Group, cashback, retail, UK, ATM
Countries: World