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Avoid being hit by the Government’s credit card surcharge ban with Cheaper Pay!

As of January 2018, businesses will be stripped of their ability to add any surcharges to their card transactions.

Airlines, fast-food chains and small businesses will be those who suffer most from the ban, but there are ways in which these companies can make up for this potential loss of capital.

Cheaper Pay’s industry-leading payment solutions come in at a staggering 40% cheaper price than the likes of WorldPay, Barclays and Lloyds – offering terrific value for money, as well as bearing the costs that may be lost in profit once these government changes come in to fruition next year.

Having provided UK businesses with the crème de la crème of payment technology for over a decade, Cheaper Pay are well placed to install the ideal payment system that is perfect for your business’s needs.

For a FREE no-obligation quote, get in touch with one of our specialist advisers today on 03301 242 537.

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Contactless payments are ready to donate a helping hand!

Contactless Payments are set to become increasingly involved in charity fundraising appeals. The move comes as statistics published late last year showed an incredible rise in the amount of money spent with contactless devices.
According to the UK Card Association, November 2016 saw a £2,903m spend in the UK through contactless mediums – an incredible 183% rise on the previous year.
Now, that incredible figure is set to be translated onto the fundraising scene, with many charities recognising that people are more inclined to spend contactlessly than with spare cash.
Some major charities have already began trialling the scheme, with the 2015 Red Nose Day producing statues that housed contactless payment points where people could donate.
Furthermore, The Blue Cross then introduced a scheme in 2016 where people could ‘Pat and Tap’ the dogs on show to donate £2.
With contactless payments on the rise, the increasing ingenuity of charities to use these schemes as a means of increasing fundraising totals is something that will definitely increase during the coming months and years.

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Sole Trader? There’s no need to go it alone – and employing these three people could help!

Many small business owners run their entire enterprise alone, which is perfectly understandable when it comes to keeping costs down.
However, going it alone as an SME is difficult to say the least – and employing these three people can help you take your business to the next level.

1) Accountant
As a small business owner, your goal is to make money–so it only makes sense to consult a professional to help you manage this crucial aspect of your business. Becoming a business owner naturally adds complexity to your tax scenario, so at tax time, an accountant can be crucial for making sure you’re in full compliance and are filing correctly.

2) Assistant
Being a solo business is difficult. Tasks and communications that don’t have to do directly with the day-to-day of customer relations, creating or offering your products and services, and other immediate tasks might become backed up, or even fall by the wayside.
This is where an assistant can come in handy. By employing a loyal employee, you can leave the simple store transactions while having more time to deal with the important things!

3) PR and Marketing Assistant
Getting your name out there is a key factor in achieving a successful business; and a PR and marketing executive can help achieve just that.
Having someone directly available to create social media content, produce flyers and leaflets, manage marketing and deal with outside queries can hugely improve your business reputation as you progress up the success ladder!

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5 Tech Payments to Look out For in 2017

The last few years have witnessed a huge change in the way we make payments. Technology is evolving at a faster rate than ever before and the payment sector is by no means getting left behind. As of March 2016, there were over 86 million contactless card users in the UK marketplace, proving that touch-and-go is the future, and here we look at five other payment technology trends that may rise to prominence in the very near future.

1) Fighting Fraud with Fingerprints
While using your finger tips to process a payment would represent the ultimate in digital transactions, it’s only the beginning! The payment industry, according to BluePay, “could soon begin using iris scans, voice-recognition and even DNA verification. There really is no limit to how far biometric payment technology can go.”

Fingerprint Tech

Fingerprint Tech


2) The Flourishing of the Bitcoin Era
Last year was an excellent one for bitcoin. Last January, bitcoins were valued at $350 and now they are above $900! Traditional financial institutions are beginning to adapt to this technology and invest in it. People are starting to recognise the value that the blockchain provides with smart contracts, cloud storage, and security.

3) Wearable Payments
Visa announced at this year’s SXSW that it’s testing sunglasses capable of making contactless payments, whereas Barclaycard teamed up with Lyle & Scott last year with a foray into the world of trend-setting wearable’s by designing a contactless jacket!

4) Invisible Payments
Businesses such as Uber and Deliveroo have mastered the art of invisible payments. With regards to Uber, their easy account set-up and request-a-driver function offers customers a hassle-free transaction. Just jump in and enjoy your journey without having to worry about fumbling around for your cash! Expect many businesses to follow suit.

5) Social Network
Facebook Messenger has already jumped into the payment pool and added a payment feature for iOs and Android in the US. For those in America, you simply add a debit card to your Facebook account and then send money directly to your Messenger contacts!

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Get Your Free Quote

cheaperPay

Get free quote from us today…

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Reasons why your Business NEEDS to make the switch to contactless payment solutions

More than just a saying or statistic, it has become reality that ‘Businesses that decline card payments are losing out’.

Sorry, we don’t take card payments’ should be a thing of the past as Britain quickly converts to a cashless society, not taking card payments should be something rarely heard of by now. Unfortunately, this is not the case just yet. 75% of all UK retail purchases are made by card; and yet still, more than two thirds of British small to medium sized businesses (SMEs) still don’t accept card payments.

With Cheaper PAY’ment solutions you can:

  • Accept Payments over the phone
  • Accept online Payments
  • Accept smart phone payments
  • Accept Chip ‘n’ Pin payments

How will these benefit your business?

  • Never miss a sale – Customers are able to buy your products anywhere at any time with secure online payments which means more sales for your business.
  • Beat your competitors – Customers are more likely to shop at a store that offers card payments.
  • Happier customers – Card payments are processed in a matter of seconds so customers can quickly continue with their day and you can get on with serving the next customer.
  • Lower bank fees – Handling less cash means fewer trips to the bank and more money back into your business.
  • More security – Extra features protect your business from fraudulent transactions and tell you immediately if a customer’s funds have not yet cleared.

Our low transaction costs are what make Cheaper Pay one of the most affordable merchant service suppliers available. Many card machine companies will charge you for a service that is designed to benefit growing businesses rather than hinder them.

At Cheaper Pay, we believe in supporting and innovating businesses with evolving technology. That is why we offer FREE quotes and a 3 months’ free trial to ensure that the payment solution you have chosen is compatible for your business.

To begin your journey to contactless payment get your free quote HERE.

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Take Payments Over the Phone

phone payments

We can help you get your business ready to take payments over the phone. Enquire today and get a free quote!

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How card payments have developed over the past decade

Over the past decade, UK consumers have adapted to the quick pace in which technology develops, including the way they pay for goods. Payments made on cards now account for 78.5% of all retail purchases, a huge increase from just 55% back in 2006!

 

2006 – 2008

One of the main reasons for this huge increase is the adoption of payment methods such as Chip and PIN and contactless, making card payments faster than using cash and allowing business owners to reduce the amount of queuing time. This benefit has led to an increase in the amount of independent businesses deciding to accept card payments of a massive 43% since 2006.

 

2008 – 2010

Consumer spending patterns continue to change to match the technology with fewer people in the UK actually carrying cash because they are quickly discovering the convenience and security of cashless payments.  There is no doubt that numerous retailers and banks are starting to see the changes in how people prefer to pay for their in-store purchases and are now more inclined to encourage customers to carry less cash and pay for smaller purchases (usually below the sum of £30) on card with ‘tap and go’ contactless payments.

 

2010 – 2015

Growth in unattended retail terminals in supermarkets, chemists and petrol stations has also boosted card use and debit cards are benefiting significantly from contactless payments, as their popularity for lower value everyday payments carries on increasing.

 

In January 2015, contactless spend in the UK totaled £287 million, rising rapidly throughout the year to reach £1.02 billion in November 2015 alone. In the same year, the number of contactless transactions carried out by consumers in Europe passed the one billion mark.

 

2016

Now that we’re in 2016, contactless mobile payment technologies, such as Apple Pay and Android Pay, have given consumers more choice in the way they want to pay. According to a report, 40% of consumers with an Apple device have adopted the Apple Pay service since its launch in July 2015.

 

It is predicted that over the next ten years, consumers will continue to favour using card payments to cash. Last year, nearly half of all payments were made in cash, however it is predicted that debit cards alone will overtake cash as the most frequently-used method of payment in just five years.

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Our Simple & Uncomplicated Sign Up Process

GET A QUOTE
Call us and speak with one of our accredited advisers for a free quote.

REGISTER OVER THE PHONE
We are a ‘Green Company’, CheaperPay reduces cost and waste by arranging everything over the phone. No paperwork required.

TERMINAL ARRIVES
We aim to have your terminal delivered as early as 5 working days.

INSTALL IN SECONDS
It is a quick and easy process of installation. If you are unsure or not ‘Tech Savvy’ don’t worry. CheaperPay has a help desk who are more than happy to assist installation.

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Want a FREE card machine for your business?

Take a look at our Ingenico range of card machines – fast and reliable, the perfect way for your customers to pay!

And the best part? Get one for FREE – all you have to do is sign up with us!

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How Wearable Technology Can Transform Your Business

First it was the smartphone – now it appears, to be glasses. We have come a long way from the days when the dial-up tone was a norm when connecting to the Internet. Now it appears that wearable technology is going to push us into a new era of communication on the go. Since Google released Google Glass, many engineers have proceeded to push the boundaries of wearable technology and its functions for both consumers and businesses alike. Imagine the scenario – a repairman is fixing a boiler, but needs some quick instructions or to look something up; instead of whipping out his smartphone, the glasses he is wearing will tell him everything he needs to know, saving both time and money in the process.

But realistically, how can wearable technology help your business to grow and stay ahead of your competitors?

The customer is always right
To assess whether your business will be a success, begins with market research. What is the consumer interested in and how do they like to shop? A customer likes to be informed at all times – and your employees will need information on hand at all time. Simply by having, for example, a watch on their wrist that they can bring information up on as they keep the customer engaged will help efficiency and time management.

Creating new business opportunities
Adopting wearable technology can also help to give you valuable consumer habit data. By being able to connect while on the go, you can track how consumers purchase your product and what entices them the most. Not only will it help increase consumer engagement with your brand but your employees will also benefit from the extra productivity and successful use of the data.

Overall, wearable technology is coming to the forefront of businesses, along with contactless payment and payment via smartphones.

We can help your small business or SME to grow by helping you ease into the wearable tech world with ease and efficiency. Contact us now for a FREE quote and sign up to get your first 3 months FREE!

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Fingerprint Tech: A New Age Of Payments

Credit card payments have come a long way; from chip & pin to contactless taps, card payments are being revolutionised everyday. However, another form of payment has come to the forefront of business payment solutions.

Currently, fingerprint technology is worth an estimated $2billion a year in Japan, and is growing rapidly due to it’s convenience for both the consumer and the business.

What is fingerprint technology and how does it work?

Fingerprint tech is revolutionising the way consumers pay for their goods. It begins with the consumer purchasing a credit card that has their fingerprint stored within the details. After that, they simply pay for their goods by placing their finger on a fingerprint scanner at the checkout. And as simple as that, they get to walk away with their goods in hand.

What are the benefits of fingerprint technology?

If contactless cards worried consumers, then fingerprint payment is the ideal solution. For example, if the consumer forgets their card or loses it before paying, they simply need to scan their fingerprint and walk out of the store. Not only will this save them time, but also means your business does not lose profit it otherwise might have. As well as the additional monetary benefit, workplace efficiency is almost doubled due to the quick nature of the payment.

Fingerless payments are looking to replace or become an alternative to Apple Pay; a market that is also growing rapidly due to it’s convenient nature. It also has the added benefit of total security. There may even come a time when the consumer will no longer need to carry card or cash – simply their fingerprint. Although there might be limitations (for example not being able to use multiple fingerprints for different bank accounts) the security of the process simply cannot be denied for both the consumer and the business.

Here are CheaperPay we understand the need for your business to stay ahead of the curve without the added costs – so we’re offering a limited time offer of 3 months FREE when you sign up for our service!

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Card Payments: The Cost Of Staying Static

More and more businesses are realising the potential of adopting card payments as well as cash transactions. With debit and credit cards being used as a consumer’s preferred payment method these days, it’s no wonder that the credit card industry is booming and contactless payments are taking off as much as they are.

However, as a small business, you may be concerned about the cost of having card payments, rather than the additional profit you’ll receive overall. These fears often lead to cash-only payment transactions for many small businesses, until they can accept card payments.

But when taking a look at the overall statistics of card payments, your business is more likely to succeed in the long term than fail.

The Statistics

Roughly, small businesses and SMEs who do not accept card payments are losing out on £8.8bn profit. £52.6 billion is spent by consumers using card payments in the UK with 70% of consumers prefer card to cash. Meanwhile, 32% of UK adults would not purchase from a store that did not accept card payments.

With these alarming statistics from the general UK public, it seems likely that a small business would struggle in it’s first year by not allowing card payments, unless the product was unique enough to suggest otherwise.

The Conclusion

Long term numbers and statistics are more reliable than short-term figures and your fears. Starting a new business comes with all kinds of risks, but being prepared is the most important factor when implementing new systems. Embrace the digital age and now!

Here at CheaperPay we understand the importance of reducing the costs for your new business. This is why we’re offering 3 months FREE when you sign up with us! Contact us for more information.