SIX brings cash back service to Austria’s supermarkets
Although long-established in North America, Australia and the UK, the cash back service has made slower progress in much of Europe.
SIX Payment Services has launched a cash back service for Austrian supermarket customers. Shoppers at REWE Group’s Billa, Merkur and Penny stores can now pay with a Maestro debit card and at the same time withdraw cash. The Maestro card enables them to withdraw up to €100 without incurring a debit card fee and they are able to do this several times per day. Customers simply pay for their purchase and the desired sum of cash can be dispensed by the cashier. The sum of the cash withdrawal will be shown separately on the receipt.
“Although the popularity of card payments, particularly for small amounts, has grown considerably, cash remains an important part of everyday life,” SIX commented. “Therefore, the ability to access cash easily through a large network of retail outlets dramatically improves customer convenience.”
The company added that cash back as a service at supermarkets launched in the mid Eighties, and has been widely rolled out across North America, Australia and the UK, where it has been well-received by both consumers and merchants. However, this is far from the norm in many European countries. Austria’s national regulation around the processing of cash and the fees faced by the merchant to be factored in when providing the cash back facility mean that the country has been slower to introduce this facility.