If you’re running a business in the UK and still relying solely on cash, you’re leaving money on the table. Card payments are now the norm, with over 80% of all transactions in the UK made using credit or debit cards. Whether you’re a small shop, an online store, or a service-based business, accepting card payments is a game-changer.
In this guide, I’ll walk you through everything you need about taking card payments from the benefits to the setup process and how it can help you grow your business. Let’s get started.
Why Your Business Needs to Accept Card Payments
Accepting card payments isn’t just about keeping up with the times it’s about unlocking new opportunities for your business. Here’s why it’s a must:
- Meet Customer Expectations: Most people expect to pay with cards, whether they’re shopping in-store or online.
- Boost Sales: Customers are more likely to make purchases (and spend more) when they can pay with a card.
- Improve Cash Flow: Card payments are processed quickly, meaning you get paid faster than waiting for cheques or bank transfers.
- Stay Competitive: If your competitors accept card payments and you don’t, you’re at a significant disadvantage.
How to Start Accepting Card Payments: A Step-by-Step Guide
Ready to take card payments? Here’s a straightforward guide to get you set up:
1. Choose the Right Payment Solution
The first step is to decide how you want to accept card payments. Your options include:
- Card Machines: Perfect for face-to-face transactions. Paymentsave offers a variety of machines, from portable devices for pop-up shops to countertop terminals for retail stores.
- Virtual Terminals: Great for businesses that take payments over the phone or via email.
- Payment Gateways: Essential for online businesses to process payments securely through their website.
2. Open a Merchant Account
A merchant account is a type of bank account that allows you to accept card payments. Most payment service providers, like Paymentsave, can help you set this up quickly and easily.
3. Partner with a Payment Processor
A payment processor handles the transaction between your customer’s bank and your merchant account. When choosing a processor, look for one with competitive fees, reliable service, and strong customer support. Paymentsave works with trusted processors to ensure seamless transactions.
4. Get the Right Equipment or Software
- For In-Person Payments: Invest in a card machine that suits your business. For example, a wireless card machine is ideal for businesses that operate on the go, while a countertop terminal works well for fixed locations.
- For Online Payments: Set up a payment gateway that integrates with your eCommerce platform, such as Shopify or WooCommerce.
5. Test Your System
Before going live, test your payment system to ensure everything works smoothly. Train your staff on how to process card payments and handle any issues that may arise.
6. Let Your Customers Know
Once you’re set-up, promote your new payment option. Add signs like “We Accept Credit and Debit Cards” at your checkout and update your website to highlight your payment options.
The Benefits of Accepting Card Payments for UK Businesses
Still on the fence? Here are some compelling reasons to start accepting card payments today:
- Higher Customer Satisfaction: Card payments are quick, easy, and secure, making the checkout process hassle-free for your customers.
- Increased Sales: Customers are more likely to make impulse purchases when they can pay with a card.
- Reduced Risk: Handling cash comes with risks like theft and human error. Card payments minimize these risks.
- Future-Proof Your Business: As cash usage continues to decline, accepting card payments ensures you stay relevant in a digital-first world.
FAQ About Accepting Card Payments
1. What Are the Costs Involved?
Fees vary depending on your payment processor and the type of transactions you process. Typically, you’ll pay a small percentage of each transaction (usually between 1.5% and 3%). Paymentsave offers transparent pricing with no hidden fees.
2. Is It Secure?
Absolutely. Card payments are highly secure, with features like encryption and fraud detection to protect both you and your customers.
3. Can I Accept Card Payments Without a Card Machine?
Yes! If you’re an online or phone-based business, you can use a virtual terminal or payment gateway to accept card payments without a physical machine.
How Paymentsave Can Help
At Paymentsave, we specialize in helping UK businesses take card payments easily and affordably. Whether you need a card machine for your shop, a virtual terminal for your call center, or a payment gateway for your online store, we’ve got you covered.
Our team will:
- Help you choose the right payment solution for your business.
- Set up your merchant account and payment processor.
- Provide ongoing support to ensure your payment system runs smoothly.
Conclusion
Accepting credit and debit card payments is no longer a luxury it’s a necessity for any UK business that wants to thrive in today’s market. With the right setup, you can increase sales, improve cash flow, and provide a better experience for your customers.
Ready to get started? Contact Paymentsave today to find the perfect payment solution for your business. Let’s make taking card payments as simple as tapping, swiping, or clicking.
