C-stores back Treasury Committee call for clarity on payment processing fees

C-stores back Treasury Committee call for clarity on payment processing fees
Convenience stores have welcomed the publication of a new report from the Commons Treasury Committee, recognising the importance of cash to convenience stores and their customers and calling for clarity on the costs of different payment methods. In the report published on Wednesday (30), the Committee state that "cracks are beginning to show" in the UK’s cash system but they do not go as far as to recommend the mandatory acceptance of cash in businesses.The report states, "There may come a time in the future when it becomes necessary for HM Treasury to mandate cash acceptance if appropriate safeguards have not been implemented for those who need physical cash."
The report also recognises the commitment by convenience stores and other small businesses to keep accepting cash for customers who need to use it to pay for goods and services.