[vc_row][vc_column][vc_column_text]Accepting Card Payments in 2022, will be one of the most important tools to have within your business if you want to improve growth and give your customers an easy way to pay. The saying ‘Cash is King’ is no longer.
Since 2012 card payments have been becoming steadily becoming more and more popular, but from February 2020 when COVID-19 was beginning to peak in the UK, card payments dramatically increased, as customers were worried cash would increase the spread of the virus. At the same time, many employee’s began to receive furlough payments, which were all paid into bank accounts which made paying by card even more convenient.
People who were receiving ‘Cash in Hand’ payments, had no option but go on to universal credit which were also paid directly into there bank accounts, so the start of a cashless society began. Whether we agree of disagree with a cashless society, the fast is that your customer has a lot more convenience paying by card than paying by cash.[/vc_column_text][tlg_headings title_tag=”h4″ separator=”line” spacing=”mb16″ customize_font=”yes” title_uppercase=”no” title=”“In 2006, the number of card payments was 17.7 million per day, while by 2016, that number had more than doubled to 39.2 million. On top of that, it’s forecasted that by 2026, daily card payments will skyrocket to about 60 million annually.“” subtitle=”Information from Statista” title_size=”22″ title_color=”#a0a0a0″][tlg_headings title=”What’s the Benefit on Taking Card Payments?” subtitle=”There are definitely more benefits for accepting card payments, see just a few below…” subtitle_color=”#353535″][/vc_column][/vc_row][vc_row][vc_column width=”2/3″][tlg_icon_title_list][tlg_icon_title_list_content title=”Bigger Spending – Customer usually spend more on there card, because the money is not physically leaving a wallet or a purse, the average spend becomes higher” icon=”ti-check”][tlg_icon_title_list_content title=”Higher Turnover – Businesses that accept payments by Debit and Credit card benefit from a higher turnover that those who are ‘Cash Only'” icon=”ti-check”][tlg_icon_title_list_content title=”Reduce Cash Theft – Although you may not want to admit it, but if your business takes a lot of cash, its very likely cash is going missing whether it be mistakes or theft from your employees” icon=”ti-check”][tlg_icon_title_list_content title=”Better Finance Management – When your accepting your card payments, you can see how much money will be coming into your account without being on site allowing your manage your outgoings” icon=”ti-check”][tlg_icon_title_list_content title=”More Secure – Having less cash at your premises reduces your risk of being broken into, armed robbery and keeps your more secure – giving you much more peace of mind” icon=”ti-check”][/tlg_icon_title_list][/vc_column][vc_column width=”1/3″][/vc_column][/vc_row][vc_row][vc_column][tlg_headings title=”Smart Phones have Transformed Taking Payments”][vc_column_text]Samsung Pay, Apple Pay, Google Pay? Our smart phones have transformed the way the new generation make purchases, they no longer want to carry there bank cards and wallets with them, simply having your phone is enough with a simple tap in each store allowing them to make payment.
With the new generation already taking advantage of this, the older generation and starting to see the benefits and the whole ‘Paying by Phone’ is becoming more and more popular each month. If your not accepting Samsung Pay, Apple Pay or Google Pay in your store you are most likely losing out on a lot of sales without realizing.
Now your thinking nobody walked out when I didn’t take there payment by card? But next time there out it might be your competitor they go to as they offer an easier payment method, and remember customers love to be lazy![/vc_column_text][/vc_column][/vc_row][vc_row][vc_column][tlg_headings title=”Disadvantages of Taking Card Payments” subtitle=”There are very few disadvantages, but here’s the one to watch out for.”][vc_column_text]I am text block. Click edit button to change this text. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo.[/vc_column_text][/vc_column][/vc_row]