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Meeting customers’ rising expectations profitably

May 2, 2017 11:14 am

Technology can spoil us and we quickly get used to new inventions and take them for granted. It wasn’t that long ago that wireless internet was a novelty and now it’s an expected and vital utility in homes and offices, almost in a par with electricity and running water. Many restaurants, cafes and bars clearly display their wifi access code because customers expect it to be there. It doesn’t deliver a great deal of differentiation or competitive advantage to provide the service, but customers will notice if it’s not available. The same is true of card payments – it may not be a unique advantage to offer this to customers, but not having the option may be costing you revenue.

These increased expectations can be seen in the range of areas where card payments are now accepted – even traditional cash-based models such as the National Express coach network are now accepting card payments. Customers expect to be able to pay for their tickets by card and technology allowed them to deliver on this expectation. Fewer and fewer people carry cash and the rise of contactless and mobile payments has eliminated the need for it on even the smallest of payments.

Accepting card payments may be an inevitability, but that doesn’t mean that it must be a painful one. To a customer, your card payment solution is taken for granted, but it’s important to consider whether the solution you currently have is fully benefiting your business. For example, the latest technology will allow you to accept mobile and contactless payments, which in many industries with high volume, low value transactions can provide real benefits to customer service.

You may feel that you have no choice but to offer card payments, but it’s still worth also looking at just how much your card payment solution is costing you. Accepting card payments may increase revenue but that’s not going to benefit you if it’s not profitable. That’s why we work hard to provide great rates for all our clients; we understand that their card payment solution is a necessity and so we know that offering even a 10% reduction on their current costs can make a difference. We also keep our focus on the latest technology and local customer service representatives because we understand that, like your customers, you want to be able to take your card payment solution for granted and have any issues resolved quickly.

Contact us if you would like to find out more about how you can start accepting card payments or reduce your current bills. A member of our expert team will be happy to talk you through the process and provide more information on how South Coast Payments can help to benefit your business. Give us a call on 02392 489911.