Small businesses lose millions by not accepting card payments

Posted by bOnline under Startups
From http://www.bonline.com 4018 days ago
Made Hot by: steefen on April 27, 2013 9:01 pm

Many small shops and businesses in the UK are unable to take card payments, and new research shows over 120 million transactions per year are abandoned by customers for this reason. Read more stats here.

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Comments

Written by AngelBiz
4016 days ago

In the US start-ups such as Square are upending the payment market by enabling small business owners to accept card payment on their smartphones. Other companies such as Paypal have also jumped in with their own products. It's only a matter of time before these products are introduced in the UK and other countries.

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Written by lyceum
4016 days ago

iZetttle is already in the UK. It has a pretty strong position in Scandinavia.

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Written by lyceum
4016 days ago

The thing is that you have a cost of accepting traditional credit card payments with a terminal that could be pretty expensive for a small business owner. But I think we will see alternative ways of payments in the future, e.g., via mobile devices like iZettle and Cube.

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Written by BizRock
4016 days ago

I couldn't agree more with what you wrote here.Thanks for sharing this with us, and you’ve surely given me lots to think about and do.

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Written by bigmoneyweb
4017 days ago

wow this really interesting. I agree with you because mostly 80% of small businesses doesn't accept credit cards payment which makes them looses some potential clients from those living international.

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