Research shows that millions of businesses don’t accept card payments despite Britain rapidly heading towards becoming a cashless society thanks to the efficiency of contactless cards.
According to the research, over 80% of retail sales are completed with card payments, including chip and pin and contactless. This news doesn’t come as a surprise as contactless technology has proven to be faster and more convenient than any other method of payment.
Modernise your business
When customers know they’re not limited to the cash in their pocket, they make more impulse purchases. Whilst customer satisfaction is a great reason to upgrade to card payments, your business can also benefit!
Secure your money
If you’re accepting card payments, you’re most likely not taking as much cash, which means there will be less cash on your premises. This means thefts and accepting fraudulent notes will be much less likely. Using our payment gateway is also another secure method if you sell products or services on your website.
Accurate accounting
Cash payments don’t leave a paper trail, making it harder to reconcile accounts. This makes it more difficult to keep accounting records organized.
Cash-only transactions are a red flag to government officials, raising suspicions of omitting income. Diversifying your payment options helps ensures you have some kind of paper trail, improving your ability to reconcile accounts and minimizing the likelihood of an audit.
Improve cashflow
It’s no lie that card payments, even chip and pin, are much quicker than counting cash and sorting change. This means shorter queues, using your time more productively and ultimately making your customers happier.
Growing income
Turning your customers away because they don’t have cash is a sure way to lose income, so having a card terminal or having an online payment gateway and offering more ways to pay means a large income.
Beat your competitors
It is true that a business may lag behind competition if it does not accept credit card payments, especially when competitors are already offering credit card payments. To survive, a business should accept credit card payments, which will obviously bring it to a level playing field with other competitors in the market.
If you are already a Card Saver customer, you can order your free Card Saver window sticker here.
