Bank / Credit Union

Lloyds, Visa launching cashback program with local retailers

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December 1, 2020

Lloyds Banking Group is working with Visa to sign up 500 U.K. retailers to offer cashback services in communities where cash availability is low.

This cashback program is aimed at communities with low cash provision and highlights Lloyd's commitment to support the banking industry, the government and campaigners to ensure cash remains widely available and accessible for small businesses and consumers.

The program will work with Lloyds network which includes Lloyds Bank, Halifax and Bank of Scotland branches, ATMs, the Post Office, 11,500 branches and existing cashback arrangements with merchants around the country. The goal with the cashback program is to provide access to cash to consumers and small businesses at a cashback enabled retailer, bank branch or Post Office within one mile of the customer's business or home.

"We want to work with retailers in communities where we know cashback can be a quick and efficient way to retain free access to cash. Initiatives such as this will help us understand more about changing customer behavior so we can work with our partners to safeguard access to cash for those who continue to rely on it," Philip Robinson, director of PCA and payments at Lloyds Bank, said in the release."