header curve
header curve

Cashback at All Shops

Cashback at All Shops
28 Oct 2020
Share

Cashback at All Shops

Brits will be able to get cashback from shops without needing to buy anything under new proposals to protect the UK’s cash system announced 15 October 2020.

Under the government proposals, cashback without a purchase could be widely available from retailers of all sizes in local communities across the UK.

Although cash use is declining, with people increasingly choosing cards, mobile and e-wallets to make payments, it remains crucial for at risk groups across the UK - including the elderly and vulnerable. Many find that cash is more accessible than digital payment methods or that it helps them to budget and manage their finances.

Current EU law makes it difficult for businesses to offer cashback when people are not paying for goods and this has been a barrier to widespread adoption. The government is now considering scrapping these rules once the transition period ends on 31 December 2020.

The government is also considering giving the FCA overall responsibility for maintaining a well-functioning retail cash system given its existing regulatory role and consumer protection objective.

At present, The Bank of England, the Financial Conduct Authority, the Payment Systems Regulator and HM Treasury each have specific roles and responsibilities for oversight of the cash system. Close coordination between these authorities has been highly effective, particularly in managing risks to cash through COVID-19, but there may be significant benefits to giving a single authority overall responsibility for setting requirements to meet the cash needs of consumers and SMEs.

Want to find out more about how we can help you?

 

BOOK A GAMEPLAN CALL WITH MEL

 
.

Download our Ebook

By providing your email address, MCA will send a copy of the Ebook to your email.

 
* indicates required

To see how we handle your personal data, click here.

You can also unsubscribe at any time by clicking here.

We may transfer your personal data to third parties such as Zoom/Mailchimp/Boma/YouTube and while we are not responsible for the privacy policies of other organisations, we acknowledge that we are a joint controller with those organisations regarding your personal data. Learn more about Mailchimp/Zoom/Boma/YouTube privacy practices here.

.

Request a copy of the recording!

By providing your email address MCA will email you a link to watch our latest webinar.

* indicates required

To see how we handle your personal data, click here.

You can also unsubscribe at any time by clicking here.

We may transfer your personal data to third parties such as Zoom/Mailchimp/Boma/YouTube and while we are not responsible for the privacy policies of other organisations, we acknowledge that we are a joint controller with those organisations regarding your personal data. Learn more about Mailchimp/Zoom/Boma/YouTube privacy practices here.

.

Download our Ebook!

Complete the form below to receive The 3 Freedoms Ebook.

* indicates required
Communication Preferences

To see how we handle your personal data, click here.

You can also unsubscribe at any time by clicking here.

We may transfer your personal data to third parties such as Zoom/Mailchimp/Boma/YouTube and while we are not responsible for the privacy policies of other organisations, we acknowledge that we are a joint controller with those organisations regarding your personal data. Learn more about Mailchimp/Zoom/Boma/YouTube privacy practices here.

Book a Gameplan Call

We can see where you are now, where you want your business to be in the future and what's missing. We will then put a plan together to get you there!

Powered by ChronoForms - ChronoEngine.com

 

Book a Gameplan Call

Powered by ChronoForms - ChronoEngine.com