Businesses CSR policies overlook the financially excluded (UK)
Post Office research has revealed that despite corporate social responsibility (CSR) becoming a key element of companies’ working practices, many are overlooking millions of customers by failing to offer a cash payment channel.
UK businesses are increasingly taking more responsibility for environmental issues by reducing their carbon footprint, as well as adopting more responsible attitudes to customers and suppliers to encourage sustainable social and economic growth.
But many companies offering basic services such as electricity, telephone, broadband and digital TV, and even gyms and health clubs, however, do not provide cash payment option.
With over 2.8 million UK adults (1.9 million households) without a bank or building society account and dependent on cash payment methods to pay their bills, the financially excluded population is unable to access a range of products and services which are available to those with bank accounts.
For example, among the UK’s top ten best selling domestic broadband providers, none currently offer a cash payment facility. In fact Post Office broadband, which launched last year, is the only broadband provider which offers a cash payment option.
Post Office marketing director Gary Hockey-Morley said: “Companies developing CSR policies aim to recognise the economic, social and environmental impact of their services. As part of this, businesses need to ensure their services are accessible to as many people as possible. This includes not only the financially excluded who operate solely on a cash budget, but those who actually prefer to pay in cash over direct debit for greater budgeting control.”
The Post Office® provides a range of bill payments services, enabling cash payments for telephone, cable TV, utilities, mail order, council tax, travel and insurance providers, to be made at any UK Post Office® branch. When it comes to making regular payments by cash or cheque the Post Office® is the most popular location with over 50 per cent of all household bills paid at the Post Office®.
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