Retailers miss out by not taking card payments
Posted on in Business News , Cycles News , Creative News, Outdoor News
UK retailers lose 120 million transactions a year by not taking card payments, according to new research.
Over 120 million transactions are lost each year in the UK through people leaving shops because they can't pay by card, according to new research from Judo. A further 92.8 million opportunities to sell are lost through people avoiding shops because they don't accept card payments.
- One in five (21%) customers have left a shop in the past six months without buying anything because they couldn't pay by card1
- Nineteen per cent (19%) of customers have avoided a shop altogether because it didn't take cards
- Majority (70%) of UK consumers prefer to pay for everyday purchases with card not cash
- Nearly two thirds (61%) would spend more with a business if they took cards
Businesses in London are most likely to miss out if they don't offer card payment services - half (50%) of consumers in the capital have left a shop in the past six months because they couldn't pay by card. On average, Londoners walk out of shops 8.6 times a year because they can't pay by card. They're also the most likely to avoid a shop if it doesn't take card payments. On average, people in the capital claim they do this more than 7 times per year.
Many retailers perceive that taking cards has become too expensive or technically complicated for many to use, which is why there are so many small retailers who still don't take cards.
Global Payments can help
With free account setup and ongoing preferential rates, Global payments card processing scheme has been tailored to specifically meet the needs of ActSmart members and means that card transactions could be completed for as little as 10.4p.
With our lowest ever rates, can you afford not to accept card payments? To find out more about Global Payments click here or contact us.
The Experts Gift Cards
Having a Global Payments services terminal also allows you to take part in The Experts Gift Card programme.
Gift cards are available in almost all major retailers and increasing in importance in the modern retail environment.
The Experts Gift Card programme has been created to enable specialist retailers to offer their customers a professionally produced electronic gift card with a low cost entry point and national recognition as an Experts Gift Card retailer.
Click here to find out more about the gift card scheme or visit theexpertsgiftcards.co.uk to view card designs and get started today.