Link’s mission to ensure free and easy access to cash as the UK’s leading automated teller machine network operator, following a positive review of its performance by Watchdog, has been followed by payment system regulators. Stay under jurisdiction.
The new ruling, which requires the implementation of policies, measures, and reporting obligations to ensure that Link maintains a wide geographic range of freely available ATMs in the UK, is the direction before it expired in January. Will replace.
More than 5 million people in the UK still depend on cash. This is under pressure from the rise of contactless payment cards and the steady withdrawal of banks and automated teller machines from towns and cities.
The PSR states: “Our priority is … to support the ATM network and make the UK cash system sustainable, resilient and available to those who need it.”
Watchdog wants to see how Link not only supports free access to cash, but also improves the resilience of ATM replacement procedures and transparency in commissioning new machines. Policy and procedure changes should be notified to the PSR. The PSR retains the power to challenge.
The draft directive has been issued for consultation and feedback is requested by 16 November.
PSR issues new access to cash directives to links
Source link PSR issues new access to cash directives to links