October 6 2016.



One in two UK SMEs (49 per cent) do not accept credit and debit card payments, despite this being the preferred way to pay for 70 per cent of shoppers according to a study by Barclaycard.

In addition, a third of UK adults (32 per cent) would consider walking away from a retailer if they could not pay by card and a quarter (24 per cent) have done so in the last 12 months, and more than four in ten shoppers (44 per cent) pay by card more frequently than they did 12 months ago with the average UK adult now carrying less than £25 in cash.

The move towards paying by credit and debit card now extends well beyond big ticket items as the average UK adult admits to carrying under £25 in cash, with more than a third (37 per cent) carrying less than £10. Despite this trend, however, 17 per cent of small businesses admit they have no plans to introduce electronic payment options any time soon – meaning they are potentially losing out on sales to their more technologically savvy competitors.


For the full story at smallbusiness.co.uk CLICK HERE