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8 May 2025

ACT parent company Bira has welcomed the Bank of England's decision to reduce interest rates from 4.5% to 4.25%, calling it a "much-needed boost" for the retail sector, including for cycling...

8 May 2025

ACT parent company Bira has responded to the news that the 144-year-old Beales department store is staging a "Rachel Reeves Closing Down Sale" in its final weeks of trading, with giant yellow...

2 May 2025

Could the UK cycling industry be showing signs of renewed momentum? Following a challenging period marked by falling sales and overstocked inventories, overall trends and sales figures from...

2 May 2025

The Netherlands is set to legalise electric scooters and other light electric vehicles on public roads from July 2025, provided they are registered and display a license plate.

30 Apr 2025

The ACT has welcomed the announcement of a parliamentary inquiry into e-bike products not meeting safety regulations, which has been launched “in context of dangerous low-quality e-bike...

29 Apr 2025

Edinburgh has been named the UK’s top city for bike commuting, with 10.00% of its workforce choosing to cycle to work, according to new research.

28 Apr 2025

The Labour Government’s new Employment Rights Bill is set to be in force this year and the new regulations will impact high street retailers up and down the country.

25 Apr 2025

ACT parent company Bira welcomes the Chancellor's announcement of plans to create a level playing field for British businesses against unfair international trade practices.

15 Apr 2025

Retail Crime Remains Alarming - Bira's Latest Survey Reveals Urgent Need for Action

11 Apr 2025

Bira has cautiously welcomed the Prime Minister's announcement this week on plans to put 'thousands of Bobbies back on the Beat' with a new neighbourhood policing guarantee.

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Government Supports Amendment to Introduce Cashback Without Purchase

Posted on in Business News , Cycles News

TheTill Government has agreed an amendment to the Financial Services Bill which will enable shops to offer cashback to customers without making a purchase.

IRC member ACS (the Association of Convenience Stores) reported the amendment to the House of Lords Financial Services Bill, tabled by Conservative Peer Lord Holmes of Richmond, will remove an existing requirement for retailers to register with the Financial Conduct Authority to offer cashback without an in-store purchase within the same transaction.

In its written submission to a HM Treasury call for evidence on the future of the UK's cash system, ACS called for the Government to ensure that retailers are not obligated to offer this service and those who do must be guaranteed fair remuneration.

ACS chief executive James Lowman said: "Over two thirds of retailers offer cash back to customers, so we welcome the extension of retailers offer cashback without having to purchase products.

"A number of useful trials on extending the use of cashback without purchase are underway, and there is still much more we need to learn about how this can be offered securely and viably for retailers. We shouldn't view cashback without purchase as a full replacement for a properly functioning and funded ATM network."

Supplying cashback without purchase will not be mandatory for any retailers. The change will come into force two months after Royal Assent of the Bill, which is expected shortly.

Lord True, speaking on behalf of the Government in the Lords said: "Industry will have discretion to make the service available across the United Kingdom. Where the service is offered, customers will be able to walk into a local business that wishes to participate, such as a corner shop, café or pub, and withdraw cash without having to make an accompanying purchase."

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