A cashless society

By Christopher Crang, Worldpay’s UK Go To Market Vice President:

As highly skilled professionals, BiKBBI members are known for their professionalism, expertise and reliability. Your accreditation alone indicates a mark of quality in a highly competitive industry.

Yet how many of you have thought about payments as a differentiator?

The truth is that customer expectations are changing[1], making it more important than ever to consider this final stage in the customer journey, just as you would the initial consultation and installation.

In short, it’s time to think about accepting card payments as a way of enhancing customer satisfaction.

A cashless society

The UK is increasingly a cashless society. Debit cards overtook cash for the first time last year as the most popular form of payment, according to UK Finance. Some 13.2 billion debit card payments were made in 2017 compared to 13.1 billion cash payments, and the gulf is expected to widen even further.

Although cash remains a favourite with many, there are a growing number of consumers who “almost never” use it at all: around 3.4 million, according to UK Finance[2].

At the same time a range of emerging technologies are hitting the market to make card acceptance easy and affordable for small and micro-businesses on-the-move. So what does this mean for your business?

By accepting card payments on-the-go, BiKBBI members can enhance the payment experience even further for those customers who prefer not to pay by cash, cheque or bank transfer. Cards also offer security benefits in that you won’t be carrying large amounts of cash around. Getting that money into your account sooner could also improve cash flow, while digital card data can be analysed every month[3] to help you manage your business more strategically.

We can help

The UK is built on the success of its small businesses[4]. Worldpay, the UK’s leading payment provider[5] trusted by over 300,000 UK small businesses, is committed to helping meet the payment needs of small businesses as they grow.

That’s why Worldpay offer innovative mobile payment solutions like the MOVE5000 terminal.

It’s a handy device for kitchen, bathroom and bedroom installers who want to offer immediate card payments to customers, wherever they are.

By taking payments on site there’s no waiting around for a cheque or an invoice to be paid. It’s fast, simple and secure, and could help improve customer satisfaction. Set-up is simple, the latest touchscreen technology makes it easy to use, and there’s 24/7 UK based support if you need it.

Worldpay also offers a simple and transparent Simplicity pricing plan for growing businesses, with one simple rate for accepting card payments[6] – Other pricing plans are also available to suit different business needs; Pay As You Go, Custom and Fixed Monthly.

BiKBBI recently announced a new relationship with Worldpay to give its members the opportunity to access Worldpay’s payment services[7].

For more information, CLICK HERE

1: Worldpay Consumer Behaviour Payment Report 2017
2: UK Finance, Convenience of debit card payments puts cash in second place 18/6/18;
3: Worldpay, https://mybusiness.worldpay.com/
4. UK Finance, Convenience of debit card payments puts cash in second place 18/6/18;
5. Nilson Report 2017;
6. Pay just one rate for Visa and MasterCard Transactions, see https://www.worldpay.com/uk/sme/pricing Subject to fair usage policy. Qualification up to threshold turnover level. PCI non-compliance and other additional fees apply. Terms & Conditions apply to Worldpay’s Service.
7. https://www.bikbbi.org.uk/news/bikbbi-partners-with-worldpay/