ATM network body, LINK, cuts interchange fees
Posted on in Business News , Cycles News
This has led to ATM operators switching retailers' free-to-use (FTU) ATMs to pay-to-use (PTU) machines.
The Association of Convenience Stores (ACS) are here to support retailers who have been impacted by these changes.
ACS has been campaigning on ATM interchange fees, working closely with MPs and the Payment Systems Regulator to communicate that cuts to interchange fees will introduce difficult decisions on whether ATMs are retained, switched from FTU to PTU, or removed completely. This has contributed towards LINK postponing its previously scheduled interchange fee cut for 2020 and putting its 2021 cut on hold, pending a review of the 2018 and 2019 cuts.
ACS is working with Which? on the Freedom to Pay. Our Way. campaign calling for consumer choice on payment methods and access to cash through ATMs. ACS has also worked closely with the Access to Cash Review, published last week, which has recommended the government tasks a regulator with operating a local ‘guarantee' for access to cash and prevents a shift away from FTU ATMs becoming the norm.
ACS are collecting case studies on the switch from FTU to PTU machines. If you have been affected by changes to your ATM, please get in touch with Steve Dowling directly via email or by phone on 01252 533 009.
