Customers Expect to Pay by Card – Are You Catering to Them?
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Customers Expect to Pay by Card – Are You Catering to Them?

There are 164 million debit and credit cards in use throughout the UK. In 2016, use of them increased by 10% compared to the previous year, totalling £904 billion in transactions. 1 in 2 credit cards and 2 in 3 debit cards are contactless, meaning people are increasingly likely to expect to be able to pay without even entering their PIN.

We’re not quite a cashless society, and some businesses will always run on pounds and notes, but the share of payments made by card is expected to increase from 37% to 53% by 2026. A functioning card terminal in your business isn’t just a ‘nice to have’, it’s an essential to stay competitive.

Benefits for You and Your Customers

Retailers, salons, pubs, bars and restaurants will often process a lot of transactions worth £30 or less, which is the current limit for contactless payments. Offering the option for contactless payments is far more customer-friendly than pointing to a mildly infuriating ‘cash only’ sign, particularly for transactions of this value.

The number of mobile and wearable payments tripled in the first half of 2017, showing people are increasingly keen to pay quickly with their devices. Accepting chip and PIN alone can make your business appear behind the times, so contactless and mobile payments are also a must.

Customers can pay quickly and conveniently through card machines, but there are clear benefits for you, the business owner too. It’s safer to store less cash on your premises, or have to take it to the bank, and the money will be processed through your business more quickly.

Choosing a Card Terminal for Your Business

Card terminals are available in countertop size or portable and mobile, meaning you can use your machine anywhere in your business that has a wireless connection. Restaurants and bars in particular benefit from portable card terminals which can be brought straight to the customer. Salons and retailers, however, could manage happily with one card machine on their countertop.

Each transaction will have a charge, depending on the processing costs. Some card processing services offer flexible fees which makes taking card payments worthwhile for even the smallest businesses.

Capify is partnered with the terminal provider,  United Merchant Services. All of their machines accept contactless and mobile payments, as well as chip and PIN. There’s a wide range of terminals available for small businesses with different needs. United Merchant Services customers can also benefit from 24/7 online and phone support, so small businesses can troubleshoot problems whatever their operating hours.

Businesses could save up to £1,800 on their card rates every year with Merchant Services. Complete their free rate check and we’ll calculate exactly how much you could save.