Growing your business
Card Payment Machines for Small Businesses
Card payment machines have revolutionised the financial disposition of the UK. So much so, that a report by former financial ombudsman Natalie Ceeney, on the topic of the rise of Cashless payments, estimated that the “current rate of decline would mean cash use would end in 2026”. Concluding that “notes and coins would still be used in 15 years' time, but accounting for [only] between 10% and 15% of transactions”.
That’s a heck of a statement, and one that is sure to worry those vendors still stuck in the usage of cash as their main form of payment method.
But keep your socks on, as all is achievable in sales and finance! Simply integrate some sweet cashless systems to stay relevant in a world so taken by card payment machines and contactless transactions. Whether to increase accessibility, ease of payment, or to reduce carbon emissions - it’s all in the use of cashless payment systems, and it’s all for the betterment of your business!
Make it Easy, Make it Contactless
Contactless Payments are all the rage right now! With numerous ways to pay without cash and a multitude of businesses willing to take things a step further by removing cash as a form of payment completely. It’s become the norm to pop into a store, pick your items and purchase them with the touch of a debit/credit card or a flash of your mobile phone with tools such as Apple, Google and Samsung pay.
Stephen Jones, chief executive of UK Finance, has stated that "More and more customers are now opting for the speed and convenience of paying with their contactless [systems]. This rapid rate of technological change is set to continue over the coming decade".
It’s easy, and gives less weight to the purchase of a product… Quite literally. Making it easier for consumers to find what they want, without the hassle of handling cash. Thereby, quickening the process of payment, and removing the issue of small change bulking up your wallet.
A Global Reach
Another great aspect of Card Payment Machines is that they mostly accept cards from all over the world. Letting any international visitors come by and purchase your goods without the issue of obtaining foreign currency, or taking out cash abroad. Thereby, lessening the anxiety that comes with international exchange rates, allowing customers to pay more spontaneously, and expanding upon accessibility in simultaneously.
Save the World. Go Cashless
Card Payment Machines and other cashless systems are also much better for the environment. With banknotes being made from land-intensive, water-wasting cotton and the production/distribution of coins accounting for a notable amount of carbon dioxide emissions - the Independent notes “that since the early 1980s, an estimated 327 million US pennies have been minted” and that “hauling those across the [US] has led to the emission of around 107 million pounds of carbon dioxide over the years”. Although US-based this is surely to be similar in scale to the UK penny. While, additionally, the UK’s new polymer notes are known for utilizing tallow in their making - a largely controversial detail for many religious sects, vegans and vegetarians alike - and one that makes the usage of notes a question of ethics as well as spending.
Integrating card payment machines can help reduce our carbon footprint, as their propagation could lead to less cash production and thereby, less needs of transportation concurrently. Thus, by utilizing card payment machines for your SME, you’re helping save the planet, while making more bank in the process!
Moreover, if you need any assistance financing the integration of Card Machines for your small business, or would like to learn more about their numerous benefits. Then consider contacting us here at Liberis Finance, where we offer a great Business Cash Advance at one cost, and only make back the cash when you start making profit, it’s a win win!