Monday, January 25, 2021

Tag: cash

Purchase free cash access trial gets underway

ATM scheme trial
A small number of shops throughout the UK are trialing a new scheme sponsored by ATM operator Link, in which convenience stores offer customers cashback services without requiring an in-store purchase.

Bacta bans under-18s playing Category D cash fruit machines

Bacta Category D under 18s Cash Fruit Machines
In a radical move away from decades of playing on ‘fruit machines’, Bacta members have decided to raise the age limit for players to 18.

Covid leads to massive decline in cash withdrawals

ATM use cash withdrawals
Many argued it was already on the way out…but new figures released by ATM network operator Link show that Covid-19 may well represent the final nail in the coffin for the widespread use of hard currency in the UK.

Treasury tells banks to protect access to cash

Cash payments ATMs
The Treasury has instructed the clearing banks to come up with a set of proposals to ensure that cash remains available nationwide.

Is the writing on the wall for cash as payments predicted to be 1 in 10 by the end of the decade?

Coins Royal Mint
The Royal Mint has confirmed that it will not be making any new £2 or 2p coins until 2030 at the earliest.

Cash mustn’t die, warns new study

cash, cashless, report
A new report has concluded that allowing the cashless revolution to completely replace notes and coins would represent a catastrophe for much of the population. Britain is at risk of “sleepwalking” into becoming a cashless society to the disadvantage of millions, a new study has ruled. Authored by ex-financial ombudsman Natalie Ceeney, the Access to Cash report estimated that as...

Bank of England provides insight into the future of cash

Coinslot - Bank of England Victoria Cleland
On the 50th anniversary of the ATM, Victoria Cleland, chief cashier and director of notes at the Bank of England, explains that rumours of a cashless society have been greatly exaggerated.   Analysing such statistics and the presence of a myriad of different payment types has led many to predict the death of cash. But if we dig further, it is...

Time is money according to Maggi’s Paul Yorke

Coinslot - Maggi Paul Yorke money
Time is money so the old adage goes, and now in a market of constant change and currency co-circulations, the phrase has never been so relevant, comments operations manager at Maggi Electronics, Paul Yorke.   Service doesn’t end at sale, and for those operating in a market as mercurial as that of coin op what happens past the point of purchase...

Cards overtakes cash, but the king is not dead yet

Coinslot - Card cash
The ATM turns 50, Visa declare war on cash, and the British Retail Consortium reveal that more than half of all payments in the UK were made on a card in 2016. The landscape of payments is changing and there is no doubt that the industry’s regulation must keep up - but is a completely cashless society beneficial or...