Lloyds and Visa are trialling a scheme to pay retailers that offer cashback to customers, according to City A.M.

The scheme, has been introduced to protect rural shops, which have been hit particularly hard by the disappearance of ATM machines. Lloyds said that the scheme would ‘give customers more reasons to visit local shops at a time of unprecedented challenges for British high streets’.

Jenny Ross, Which? money editor, told Press Association she needed to see more detail about how the scheme would work in practice, adding that ‘cashback is not an adequate substitute for ATMs or bank branches, and it’s essential that communities continue to have access to their money free of charge for as long as they need it’.

Full article:

→ City A.M. - Lloyds unveils plan to pay retailers offering cashback