Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what support he plans to make available to small businesses to adopt the new cashback provisions outlined in the Financial Services Act 2021.

As part of the Financial Services Act 2021 the Government made legislative changes to support the widespread offering of cashback without a purchase by shops and other businesses. The Government’s view is that cashback without a purchase has the potential to be a valuable facility to cash users, and to play an important role in the UK’s cash infrastructure.

The Government’s legislative change to enable cashback without a purchase will take effect this month of June 2021. Last month, UK Finance announced the formation of a new Access to Cash Action Group, and confirmed that the banking and finance industry is already working collaboratively with retailers to make a success of this new opportunity.