THE Co-op has pledged to protect access to cash in communities that rely on it.
To safeguard access to cash in these communities, the Co-op has pledged to protect cash transactions across its stores, offer free-to-use ATMs as well as a free-to-use cash back service for stores without ATMs. The retailer will also support access to cash through Post Office and One Banks in stores offering these services.
The Co-op said that it aims to prevent communities from becoming cash deserts – an area with little or no access to cash services or payments.
This pledge follows the publication of the Co-op’s new Way We Pay report, which found that while UK cash use has fallen from 65% of transactions in 2016 to 28% now, there are still areas that rely on cash payments.
The report recorded the top 10 counties for cash usage in the UK. Ayrshire and Fife placed fourth and fifth, with cash accounting for 41% and 38% of transactions respectively.
Matt Hood, co-managing director at Co-op Food, said: “Insight and data within our latest report indicates that while contactless has become the preferred way for many to pay, cash still remains a key payment method that the public looks to for confidence and security.
“As a community-led convenience retailer it’s important to uss that while we have the correct technology that offers convenience, we also have the in-store facilities that offer vital services to customers and communities that continue to use cash.”
