Cash withdrawal from shops coming soon
Bank card holders will soon have the option to get cash back when making purchases in shops. The new service will allow people in rural areas -- where ATMs and bank branches have gradually begun to disappear from the landscape -- to be able to withdraw cash from their accounts when they need it.
Over the past several years, as banks have closed rural branches and ATMs, it has become increasingly difficult for people there to get money in banknote form.
Card payment service provider Luottokunta, which is coordinating the service, will allow customers at shops to make withdrawals of up to 400 euros.
Luottokunta CEO Heikki Kapanen says such a service is necessary. While paying cash for goods and services steadily declines, there still remains a need for cash.
“For these small transactions, it’s of great benefit, especially to those in rural areas,” Kapanen said.
Many European countries already use the cash back system. The system is very popular in Sweden, the UK as well as in the US.
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