Lloyds Bank’s introduction of its barcode cash paying-in feature has proven to be a significant success, with over £3 million deposited at PayPoint locations since its launch in August 2025
Since its launch in August, Lloyds’ barcode cash deposit feature has enabled customers to deposit over £3 million at local PayPoint locations.
Lloyds Bank’s barcode cash deposit app feature lets customers pay in cash quickly and securely at over 30,000 PayPoint locations across the UK. Launched in August 2025, the tool enables customers to generate a barcode in seconds from the ‘Everyday’ area of the app, then scan it at a PayPoint store to deposit up to £300 per day in notes and coins, with a maximum of £600 per month. Deposited funds appear in accounts within minutes, and the barcode is valid for two hours.
In addition to generating a barcode via the app, customers can now use their debit card to deposit cash at participating PayPoint stores as well.
With 99.5% of the population living within a mile of a PayPoint, customers can easily locate their nearest store through the Lloyds app, website, or PayPoint’s website. PayPoint locations also support other everyday tasks like collecting parcels, paying bills, topping up phones, or buying gift cards, making them a convenient one-stop solution.
“Whether it’s through our app, or with a card, customers can pay in notes and coin at thousands of local PayPoint locations. We’re making it easy for people to manage their money, whenever and wherever it works for them,” said Gabby Collins, Payments Director at Lloyds.
This feature adds convenient, local access to cash deposits, which might be a questionable benefit for many fintechs that double down exclusively on digital payment and banking features. However, its popularity reflects important insights about the UK payment scene: cash use remains resilient despite any tech advancements.
Despite a long-term decline in cash usage, recent data indicate a resurgence in cash transactions. In 2024, cash was used for only 9% of all payments, down from 12% in 2023. However, the value of banknotes in circulation has increased by 23% since before the pandemic. This suggests that while the frequency of cash transactions has decreased, the total value of cash in circulation remains significant. Lloyds’ feature caters to this enduring demand for cash handling, at the same time combining it with the benefits of digital banking, thus providing a modern solution for cash deposits.
This seamless integration reflects the broader trend of combining digital convenience with physical cash accessibility, creating seamless phygital payment experience.
Finally, the ability to deposit cash quickly and securely, with funds appearing in accounts within minutes, offers unparalleled convenience for customers, particularly in underserved areas.
