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5 Aug 2021

Now in its ninth year, Cycle to Work Day is the UK's leading one-day commuting event. The idea is simple - to  celebrate everyday cycling.

5 Aug 2021

Part 2 of the summer series looks at how the ACT works closely with the Independent Retailers Confederation (IRC) to become even more influential in meeting the needs of independent retail.

4 Aug 2021

Whether you ride foWhether you ride for pleasure, sport or just to get from A to B, join Cycling UK for free insurance, legal cover and more.

29 Jul 2021

Part 1 of the ACT summer series looks at the rapid expansion of Cytech in the UK.

29 Jul 2021

Social media is a busy world, and the past week has been no different. Maybe* have pulled together some of the top, recent headlines. Read on to discover the Olympiad emojis and live stream...

29 Jul 2021

The IRC are seeking urgent input from members impacted by the rule changes  on 1st Julyto provide us with valuable information we can present to Government.

23 Jul 2021

Get involved early with one of the latest innovations in indoor cycling

22 Jul 2021

During the Maybe* monthly masterclass you'll discover each month which bike shops have had the most social media engagement and why - catch up on last week's now.

21 Jul 2021

The ACT plans to engage with the DfTon this plan to support its development and implementation. as well as disussing opportunities that it may present for the cycling industry.

21 Jul 2021

The report announces a new National High Streets Day to celebrate clean streets, the extension of pavement licence measures for a further 12 months and a £150m Community Ownership Fund...

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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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