(Alliance News) - PayPoint PLC announced on Friday the further rollout of its fee-free cash withdrawal service in partnership with Link, the UK's largest cash machine network.
The Hertfordshire-based payment service said it expects to have its Counter Cash service in more than 2,000 shops before the end of the year.
The service allows consumers to withdraw cash between GBP1 to GBP50 in smaller shops without the need to buy an item in-store or pay a fee.
The free cashback service is already live in over 1,000 locations and over GBP680,000 has been withdrawn using the channel so far.
PayPoint's initiative follows UK government legislation earlier this year that facilitates cashback without purchase.
Chief Executive Officer Nick Wiles said: "This expanded rollout of our Counter Cash service, in partnership with Link, demonstrates our mutual, long-term commitment to ensuring that cash access is protected. I look forward to seeing our network of retailer partners around the UK who offer cashback without purchase services expand further in the coming months."
Shares were up 0.2% at 632.00 pence on Friday morning in London.
By Heather Rydings; heatherrydings@alliancenews.com
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Paypoint (PAY)