Card Acceptance for Tradesmen
As we move closer to a cashless society as more and more customers choose to pay with a debit or credit card. Making it easier for your customers to pay will prove to reflect well on your business, make it more efficient and ultimately increase revenue.
Debit cards are now the preferred method for payment in the UK. 3 out of every 4 transactions are carried out by a card nowadays. The main reason for this is that paying by debit cards is easy, safe and secure.
Accepting card payments can make your business look more professional and ensure all transactions are carried out in a timely manner, usually a few seconds. Offering your customer the option to pay by card, the bill can be paid immediately and hassle-free. You can leave that customer with the peace of mind that all payments have been settled. It will also save you the time and hassle of taking cash to the bank. Most banks will charge anything up to 80 pence per £100 to deposit money into a business bank account. In most cases, it could work out cheaper to accept card payments than take cash, costing as low as 40 pence per £100.
Findings from a recent survey* reveal that many self-employed tradespeople and mobile workers may be losing potential income by not being able to accept card payments.
There is competitive advantage to be gained as the survey shows that businesses adopting card payment technology often attract more customers than those only accepting cash. According to the survey, 1-in-5 UK consumers have abandoned a purchase due to the trades person not accepting card payments or because they did not have enough cash, over half of consumers (54%) finding this lack of flexibility inconvenient.
The survey also revealed:
- 87% state that they spend more money when paying by card as they purchase additional services or products, demonstrating the potential benefits on offer for those mobile workers that adopt the new service
- 72% of consumers are left with a negative impression of a business that fails to accept cards
- 28% of customers may also see this lack of service as poor customer service
- 18% even perceiving the business as unsuccessful or struggling
- 19% see lack of card payment options as being unprofessional
Mobile Card Machine
Majority of tradesmen being based on the road; a mobile card machine will be the most suitable option for this kind of business. These machines will allow you to take card payments anywhere in the UK using mobile communications. they work off mobile broadband connection so they are quick and reliable.
Tradespeople and mobile workers have the potential to gain new customers by accepting card payments whilst on the move. 38% of consumers saying that they would prefer a tradesman (38%, an electrician 35% and a plumber 33%) if they accept card payments over one that doesn’t, even if the job quote, materials and service quality are the same.
We Tranxact Ltd have teamed up with a payments technology company to offer a card acceptance package just suited for the needs of tradesmen and other self employed businesses on the move. https://www.wetranxact.co.uk/services/lite-users/