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Download the Indie Retail face covering poster to inform customers and staff of the new law

25 Sep 2020

It is now compulsory for all retail workers in England to wear face masks from today, Indie Retail has created a Face Covering Poster for shops to display outside to inform customers and... Read more…

Join BIra, Google and Pointy for a live webinar on bringing your business presence online

24 Sep 2020

4 out of 5 consumers use Google search engines to find information like store address, hours, and directions. But will they find yours? Read more…

Download and display QR codes for the NHS Covid-19 contact tracing app launched today

24 Sep 2020

The NHS Covid-19 contact tracing app is due to be launched on 24 September in England and Wales. To use the contact tracing app businesses will need to download and display QR codes.
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Maybe* shows businesses how to be more 'Gymshark' on social media

23 Sep 2020

In the latest demonstration of their insight tool Maybe* are showing businesses how to replicate Gymshark's successful tactics to improve results and increase ROI.
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How Maybe* are helping Local Authorities and Bids upskill their businesses in social media

16 Sep 2020

Maybe*'s latest video on helping Local Authorities and Bids to upskill their businesses in social media so that they have the tools they need to engage online and drive sales in the lead up... Read more…

Local Bike Shop Day 2020 celebrated by record number of shoppers across the nation

15 Sep 2020

Local Bike Shop Day's postponed date of 5th September was the perfect time to celebrate the recent upturn in cycling and draw attention to allthat local bike shops have done for us... Read more…

Government launches Bounce-back plans for consumer and retail industry

10 Sep 2020

A ‘bounce-back' plan of trade measures for the consumer and retail industry has been announced to help support businesses impacted by Coronavirus.
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Advertise your jobs with Indie Retail for FREE

8 Sep 2020

For a limited time only we are giving all retailers free access to the full range of Indie Retail job boards!
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Get Involved with Thinking of You Week taking place 21st-27th September

8 Sep 2020

Thinking of You Week has been celebrated every September for the last 7 years. This year it is 21st-27th September 2020; and there has never been a more appropriate year to send a card, to keep... Read more…

Crown Commercial Service asks SME's to complete Engagement Survey

2 Sep 2020

The 20 question Survey concentrates on market access, registration and PPQ/SQ submission
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Consumers' retail credit card spending overtakes cash

Posted on in Cycles News

A new report by a retailers' trade body has said that consumers have spent more money on credit cards with UK retailers in 2018 than they did in cash.

The chart below shows a payment survey undertaken by the British Retail Consortium (BRC) which shows that debit cards remained to be the form of payment with most money being spent through it, accounting for £216.4bn of sales, whilst cash dropped to the third most popular at ££77.7bn. Credit and charge cards accounted for £81.9bn, or 22%, of retail sales last year - outstripping cash for the first time in the last 20 years of BRC payment surveys.

 

However, cash was actually still used more frequently than credit cards, although the typical transaction using cash was worth over £20 less than the average credit card payment of £31.54. Cash accounted for just over £1 in every £5 spent with UK shops.

The BRC argued that rising costs faced by retailers to process card payments could push up prices. Andrew Cregan, policy adviser at the BRC, said that falling cash use and growth of online shopping were both factors in the shift. A cashless society is cause for concern for vulnerable people, such as those with physical or mental health problems, who find it hard to use digital services, people who have been bankrupt, or those who use cash as a lifeline when in difficult or abusive relationships, could also be severely affected.

Despite this, the BRC outlined their main concern to be for retailers and the cost of accepting card payments. The BRC stated that the average cost faced by a retailer for a debit card transaction was 6.23p, rising to 18.19p for credit or charge cards, compared with 1.66p for cash, and these costs continue to rise sharply.

 

Card Processing with ActSmart

ActSmart offer two card processing options; Global Payments for established businesses with medium to high card turnover and Paya Card Services for new and smaller businesses with lower card volumes. 

Global Payments

Global Payments is ideal for established or larger businesses that will save you save you time & money in-store, online and through mail order. Credit card rates start from 1.090% and debit card rates start from 0.29%. The offer also includes a free set-up worth £150 and three months free terminal rental.

Paya Card Services

Paya Card Services is ideal for start-ups and small businesses. Features include a pay-as-you-go account with a fixed, all-inclusive rate with no additional fees, including PCI. It also offers in-store, online, mail order and mPOS solutions with no minimum contract term and no monthly minimum charge. The offer also includes a free sign-up worth £99 and an optional discounted countertop terminal just £1.75 p/w.

For more information about either of the ActSmart card processing partners please visit the ActSmart website.

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