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Card payments are on the rise

February 16, 2017 1:45 pm

Card payments are on the rise, ask anyone. Gone are the days of carrying around bulky cash and faffing around with change, today’s modern shopper is putting convenience first and embracing the card!

By 2021 it is estimated that the number of debit card payments will outweigh the number of cash payments. The rise in popularity of card services such as contactless payments means that paying by card is getting easier and quicker than ever before. This is not just applicable to the younger generations. Recent research found that the amount of people over 60 using contactless card payments has surged by 116% in the last 12 months.

The benefits of choosing card over cash for both consumers and businesses are numerous. Reducing the quantity of cash not only carried on one’s person but also held in shops means that there is less of an allure to petty criminals who may be targeting individuals or stores. The banks’ numerous safety precautions also mean that in the incident of theft a quick phone call can ensure that no one except you will be able to access your funds.

For shoppers, the ability to carry just one small, sleek plastic card is also a huge benefit. No more bulky wallets and pockets full of change, the modern shopper has all of their money accessible to them at the simple swipe of a card.

With less and less people carrying cash, it is vital for small businesses to keep up with the demand on card payments. An efficient, reliable card payment system can make or break a customer’s experience with a business, being the difference between repeat custom and the customer going elsewhere next time.

If you are interested in how South Coast Payments can help benefit your business with card payment processing solutions, give us a call on 02392 489911 or email us on [email protected].