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Cashless payment system introduced by scrap dealer
28 Dec 2011

A scrap metal dealer in the UK has introduced a cashless payment system in a bid to prevent metal theft and increase accountability among its customers.

SITA said the Hayes site in West London will be the first to benefit, although all of its premises will eventually have the technology.

Anyone who takes metal to the dealer will not be paid in cash, but will use technology to arrange to have the money transferred straight to their bank.

Chief executive David Palmer-Jones said: "We believe that the use of a cashless system, coupled with compulsory use of photo ID for all transactions, will help to address the trading of stolen metals and issues such as tax evasion."

He urged other dealers to adopt similar procedures, perhaps by giving regulars contactless smart cards.

Metal theft has become an increasing problem in Britain in recent months, with everything from manhole covers to war memorials being stolen as criminals search for new ways to make money.