Electronic Payments International reported on news that Visa has launched an industry-wide ‘access to cash’ scheme to encourage retailers to offer cashback.

The initiative specifically targets areas in the UK where consumers currently struggle to access cash, such as remote and rural locations. It is also hoped to incentivise local businesses to offer cashback to consumers using their Visa debit cards and help the struggling British high street in smaller towns.

The number of ATMs in rural areas have diminished at a rapid rate recently. Research from found that residents in one in eight rural communities have lost their last free-to-use ATM and face travelling one kilometre to their next one.

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Electronic Payments International - Visa launches scheme to enhance access to cash in rural areas