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Government extends Business evictions ban until March

9 Dec 2020

Communities Secretary Robert Jenrick announced today (9 December 2020) that business owners affected by the pandemic will be protected from eviction until the end of March 2021.
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Register for the APPGCW Environment Bill webinar

8 Dec 2020

The webinar takes place this Friday will explore how cycling and walking will be key elements in securing the aims of the Environment Bill.
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The ACT and other IRC members meet with under-secretary of state Paul Scully MP to discuss the future on independent retail

7 Dec 2020

The meeting topics evaluated any lessons that we have so far learned from national lockdowns and ways in which we can move forward from this using government support.
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Indie Retail partners with The Behaviours Agency to create free posters encouraging shoppers to wear face coverings in stores

2 Dec 2020

A refreshed suite of posters developed to support retailers in encouraging shoppers to wear face coverings using behavioural science techniques. The posters are available free of charge for... Read more…

Three local bike shops commended in Best Small Shops competition 2020!

2 Dec 2020

Independent bicycle retailers in Bradford, Ipswitch and York have all been commended in this year's search for the Best Small Shop of 2020!
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Pablo Escobar's brother sues Europe's most valuable fintech company for millions

27 Nov 2020

Recent events have once again highlighted the growing concerns centred on the UK's growing use of Buy Now Pay Later (BNPL) services.
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Worcester home and gift shop named as Britain's Best Small Shop of 2020

26 Nov 2020

A family run, independent, home and gift shop in Worcester has been named as Britain's Best Small Shop of 2020.
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Government Spending Review: The most relevant Spending Review policies to independent retailers

25 Nov 2020

The Chancellor presented his Spending Review to Parliament today settingout the Government's departmental spending plans for the year ahead andresponse to Coronavirus (Covid-19).
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IRC seeks extension to retailer eviction protection in Westminster Hall Debate

19 Nov 2020

IRC member enters debate to seek an extension to the moratorium onevictions within the Coronavirus Act 2020. Can you help us... Read more…

Indie Retail UK partners with TraffikFlo to help independent retailers manage social distancing

19 Nov 2020

Indie Retail are delighted to announce a partnership between themselves and the app-controlled window display sign TraffikFlo, enabling more shops to simply and effectively manage social... Read more…

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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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