Skip to content
Search
AI Powered
Latest Stories

ACS says action is needed to secure UK's cash infrastructure

ACS (the Association of Convenience Stores) has welcomed an update from the Joint Authorities Cash Strategy (JACS) Group on safeguarding the UK’s cash infrastructure, highlighting the importance of cash to businesses and consumers.

The Joint Authorities Cash Strategy (JACS) Group brings together the Bank of England, Payments Systems Regulator (PSR) and Financial Conduct Authority (FCA) to ensure comprehensive oversight of the overall cash infrastructure across the UK.


In its update, the Group noted the importance of supporting a ‘broad and sustainable cash system’ outlining the current inefficiencies with the UK’s cash infrastructure.

ACS chief executive James Lowman said: “Local shops play an important role in providing access to cash to their customers, primarily through a network of ATMs, but this is becoming increasing difficult as a result of cuts to interchange fees making it unsustainable for local shops to host.

“We welcome the findings of this report and share many of the concerns that have been highlighted. Despite the rise in digital payments, cash will continue to play a vital role in the day to day lives of millions of consumers and businesses across the UK.”

The 2019 Local Shop Report shows that almost two thirds (64%) of local shops provide a cash machine to their communities. Consumers also rated cash machines as one of the most valuable services offered by convenience stores.

More for you

Post Office cash deposits and withdrawals
Post Office, DPD partners to rollout ‘Click and Collect’ services
Post Office, DPD partners to rollout ‘Click and Collect’ services

Parliament to launch inquiry into Post Office Horizon scandal compensation delays

Parliament is to launch an inquiry into delays in compensation settlements for sub postmasters affected by the Horizon scandal.

The newly-formed Business and Trade Select Committee will call ministers, subpostmasters and their lawyers to give evidence next week with a second session to follow in mid-November. The Committee’s chair, Liam Byrne MP told ITV News that there was “definitely a delay” in people coming forward for payment.

Keep ReadingShow less
Bacup Wine and Convenience shop, 34 Burnley Road, Bacup.

Bacup Wine and Convenience shop, 34 Burnley Road, Bacup.

Robbie MacDonald via LDRS

Shop’s licence bid rejected over illegal vapes and ‘no regard’ for children’s safety

A Rossendale shop has had a licence bid rejected after repeatedly selling vapes to children and having illegal products on its premises.

Management at the Ibra Superstore at 34 Burnley Road, Bacup, have shown ‘no regard’ for children’s protection and safety, and have insufficient controls for licensing, Rossendale councillors have ruled.

Keep ReadingShow less
SPAR retailer hits target to secure £100,000 free stock from James Hall

SPAR retailer hits target to secure £100,000 free stock from James Hall

SPAR North of England retailer Dara Singh Randhawa’s family store has been awarded £100,000 of free stock after hitting all his targets since moving to the symbol.

Dara and his family, who have their SPAR store in Patrington in the East Riding of Yorkshire, joined SPAR through its association with James Hall & Co. Ltd in August 2023 having taken the decision to maximise the store’s potential.

Keep ReadingShow less
Pound Sterling bank notes
iStock

National Living Wage to increase to £12.21 in April 2025

The government has on Wednesday announced its acceptance of the Low Pay Commission’s (LPC) recommendations on the rates of the National Minimum Wage (NMW), including the National Living Wage (NLW).

The rates which will apply from 1 April 2025 are as follows:

Keep ReadingShow less
Michael Fletcher

Michael Fletcher

Former Nisa chief Michael Fletcher appointed SPAR UK managing director

SPAR UK has announced the appointment of Michael Fletcher as its new managing director.

Fletcher spent 22 years at Tesco plc, where he held numerous senior commercial roles in the UK, Ireland and Asia. He joined Co-op Retail in 2013 where he held the position of chief commercial officer before moving on to become CEO of Nisa Wholesale, a role he held until 2022.

Keep ReadingShow less