Updated on 18th March 2017
It’s just not good enough! Customers demand the best card payment solution when they’re spending money.
Business alert! Don’t lose customers by not having the the best payment technology installed. It’s cheaper than you think and there’s a range of options to choose from.
UK consumers are changing the way they pay for things, and it’s important that businesses address this trend with payment solutions that offer all the right options.
It was only recently that contactless payment using credit and debit cards became common and it transformed the payment experience. Some suppliers claim that transactions have become almost twice as fast as conventional cash or ‘chip and pin’ credit and debit card purchases. And whilst contactless is typically limited to small value sales, the maximum payment amount per transaction has been steadily climbing, with the latest increase being made in September 2015.
This was the start of quick and easy payments and according to a Worldpay study on payment trends, 71% of people include ease of payment and 36% include speed in their list of most important factors when considering which method of payment to use.
But this was only the start. With the confidence in contactless technology maturing, consumers have moved towards ditching their cards for mobile devices. In 2016, UK mobile ‘tap and pay’ transactions topped £288m from 38 million transactions1, showing a strong shift in both behaviour and expectations. Customers increasingly expect the familiarity of a payment device being held out in front of them, leaving the choice of tap to them. The traditional payment card is definitely at risk. Imagine a world without physical wallets?
It’s simple to get involved, with some big benefits:
- No lost sales from lack of payment options
- Reduced queue size keeping customers happy
- Incremental sales from new patrons
- Handle less cash and fewer trips to the bank
- Lower transaction fees from better value tech
- Stronger security from reduced fraud
The card payment system environment is constantly changing, but don’t let that concern you. It’s easy to stay ahead. The competition has also grown which means that they’re fighting for your business.
So whether you’re dipping your toe in and considering a solution for the first time or would like to switch out your current one, it’s easy to compare actual price plans from leading suppliers and find the best deal. And you can use a comparison specialist to do all the hard work for you. They will navigate the plethora of options for free and with no obligation.
Glancing into the future…
Analysis and findings from Worldpay continue to suggest that in 2022, consumers will expect to make payments using:
Who should I work with?
Inspired Quotes will help take the hassle out of searching for and comparing different card payment solutions. Instead of contacting every supplier separately, simply fill out our online form and we will find the best suppliers with tailored and competitive quotes. Our service is 100% free and no obligation. We’re here to help.
1Europe Payment Trends, 18 Aug 2016, Worldpay