New services will become available to meet the cash needs of consumers and businesses, a boss at the City regulator has said.
Sheldon Mills, executive director for consumers and competition at the Financial Conduct Authority (FCA) was speaking at a “cash summit” hosted by consumer group Which?
He said: “Over the longer term, we believe that new services will become available to meet the needs of consumers and businesses alike.
“Shared branches, cashback and deposit points might become commonplace in some areas, while more consumers embrace digital technology, and many use less cash.”
Mr Mills said research has been taking place into people’s access to cash.