Sims Metal Management has set up pilot schemes at a number of its metals recycling sites to trial cashless trading.
Traders and members of the public visiting sites at Burton on Trent, Newport (pictured above), Long Marston, and Taunton are being offered payment directly into their bank accounts by electronic transfer.
Sims has worked with Barclaycard to develop its ‘Swipe and Sign’ system in which funds credited to the customer’s account are accessible within two to three days.
The company says it is also exploring other methods of making cashless payments to improve the service.
Sims Metal Management’s Derek Campbell said: “As the world’s largest metals recycler, we are keen to see how cashless trading in the UK is going to work in practice, well in advance of the legislation becoming law. That way we can iron out any teething troubles before the ban takes effect.”
The company will be offering the electronic payment system to everyone who comes through the gate at participating sites to see how it is received.
For the period of the trial, Sims will provide cash payments only if requested and payments will be made subject to the provision of photographic proof of identity.