PayPoint and Link pilot new cash withdrawal service

Paypoint

Cardholders will be able to withdraw up to £100 and receive the exact notes and change they need for the first time

PayPoint is set to pilot a new cash withdrawal service over the counter in collaboration with cash machine network Link.

As part of a trial across 15 locations this summer, cardholders will be able to withdraw up to £100 and receive the exact notes and change they need for the first time.

Customers slot their bank card into the PayPoint terminal and enter their pin. They then tell the retailer how much they would like to withdraw and the retailer will give them cash from their till.

The PayPoint terminal will act like an ATM, removing the requirement for an additional machine.

Completely free to use, the cash withdrawal service has a minimum withdrawal service of just 1p.

If the trial is successful, the service may well be rolled out to complement existing ATM coverage next year.

“We’re delighted to be working closely with Link to bring an innovative solution to market that will help customers and local retailers alike,” said PayPoint chief executive Dominic Taylor.

“This is yet another example of how local retailers are playing a critical role in delivering vital services to their local communities every day across our network of 29,000 stores, a network bigger than all banks, post offices and supermarkets put together.”

Link CEO John Howells added: “Link is committed to promoting financial inclusion and supporting extensive free access to cash. The number of ATMs is at a record high, but there are still areas, including rural and remote communities, where cash access can be significantly improved. This is why we are excited to work with our members and the Link Consumer Council on this pilot with PayPoint and explore how, together, we could increase people’s access to cash, regardless of where they live.”

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