Search News

Results: 1-10 of 43

75% of retail transactions paid on card

13 Sep 2018

According to latest BRC Payments Survey
Read more…

Third of small businesses not driven by profit

11 Sep 2018

According to new report by peak b

Read more…

Lib Dems call for new "commercial landowner levy" to replace business rates

21 Aug 2018

The new proposal would see businesses in 92% of local authorities paying less

Read more…

Chancellor considering "Amazon tax" for online retailers

13 Aug 2018

Creating a more level playing field for bricks and mortar retailers

Read more…

Small businesses feel penalised by "intensive" HMRC investigations

8 Aug 2018

SMEs unhappy with nature of HMRC investigations
Read more…

IRC confirms Westminster for Best Small Shops competition reception

2 Aug 2018

Shortlisted retailers will be invited to the Houses of Parliament
Read more…

Protecting your business from credit card fraud

24 Jul 2018

Understanding how to prevent fraudulent card charges
Read more…

Best Small Shops competition returns for 2018

16 Jul 2018

UK's indendent retailers encouraged to enter

Read more…

75% of retail transactions paid on card

Posted on in Business News, Cycles News, Creative News, Outdoor News

More than 75% of UK retail transactions now involve cards, according to the latest analysis from the British Retail Consortium (BRC).

Just 22% of transactions now involve cash, says the BRC in its 2018 Payments Survey. Retailers ended up spending an extra £170m on processing card payments over the year largely, says the BRC, thanks to card scheme fees that rose between 30% and 100% for some transactions.

The BRC Payments Survey questioned 48% of the retail industry and looked at the payment methods that UK shoppers use when they buy goods in store and online, how this has changed since last year and how much it costs retailers on average to handle each method of payment.

BRC head of payments and consumer credit Andrew Cregan said: "EU payment regulation introduced in 2015 delivered savings for the retail industry and consumers, but these benefits have now been eroded by increases in other card fees. In fact, many smaller retailers have questioned whether savings were ever passed on by card companies. The BRC is now looking to the Government and regulator to tackle the alarming increases to card scheme fees imposed by retailers and for action to simplify the complex fees and charges levied by the card payments industry."

To ensure ActSmart can provide the best solution for all business we have two card processing partners; Global Payments for established businesses with medium to high card turnover and Paya Card Services for newer or smaller businesses with lower card volumes, both of which have transparent pricing so you know exactly what you are paying for.

To find out which solution is right for you, visit the Card Processing service page.


Add a comment

Your email address will only be used to contact you regarding this comment.
We will not share your email address with anyone and it will not be published on the website.