1. It will increase your turnover
The average UK shopper carries just £25 in their wallet. This means if you don’t offer a means to pay by card, they can only ever purchase something £25 or under. However, providing consumers with a means to use their debit or credit card takes the stress of having to calculate how much their spending or if they have enough cash. It also increases the chances of your customers spending more and therefore your overall turnover. Compare providers here
2. Customer queuing is minimised
The stereotype of the UK population having a strong dislike for queuing couldn’t be more true. We all hate it, so why make your customers wait any more than they should do. Seconds can often feel like minutes. Avoid the back and forth hassle of dealing with cash and replace this exchange with a simple clean contactless tap or chip and pin
transaction. Not only will the customer waiting be minimised but it will also free up some very valuable time for you to be getting on with activities that matter most to your business.
3. They’re more hygienic than cash payments
A £20 is exchanged 247 times over the course of a year. In the new COVID-19 era, we know that we should limit unnecessary contact unless absolutely necessary. The frequency of cash exchange makes it a suitable mechanism for virus and transmission of germs.
63% of customers would switch to a business if they offered contact payments.
4. You get valuable insights
You may have heard about the power of data and how it is a new commodity in itself. The reason is because data provides visibility on the exact financial state of your business. Visibility gives you valuable insights to make informed based decisions on key operational elements. When are your most popular times? What items are being purchased most often? Seasonal trends? Compare providers here
5. Customers want cashback on their credit cards
Savvy consumers want to be rewarded for spending on their credit cards in the form of points or air miles or cash back. A large majority of them want to pay with their American Express cards, accumulate the points and then use these points on a flight somewhere exotic. Don’t deny them this opportunity.