Visa takes ‘access to cash’ programme across UK

January 23, 2020 | Financial Inclusion

Written by FinTech Alliance

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Visa
Visa takes ‘access to cash’ programme across UK

Visa has announced a programme to help rural customers gain access to cash.

In Brief:

  • Visa will work with partner banks to offer high street retailers in remote locations rewards for offering cash transactions.

  • This is due to issues in rural areas where bank branches and ATMs have become sparse.

  • One of the partners involved is Lloyd’s banking group.

What does this mean?

Visa is not the first to recognise this issue: according to Finextra, fellow payments giant Mastercard is planning to roll out a service in April that incentivises retailers to process cashback transactions. Visa might also encourage cashback to be offered without the prerequisite of an instore purchase.

Read more here.

 

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