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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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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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Tech note, everyone – wearable technology is on the move!

We have often associated wearable technology with the fitness industry. Companies such as FitBit have produced spectacular results in this field, harnessing the ability to track and manage anything from distance run to calories burned over a certain period of time.
However, wearable tech is now leaving the wellbeing scene behind and advancing on to a period of world domination.
Advanced wearable biometrics can be used as a form of authentication for a number of things.
NEC corporation has recently adopted the software to identify people placed on ear readings – something previously unprecedented in the industry.
“The system enables biometric authentication via the otoacoustic emission, a sound made by the inner ear when the cochlea is stimulated, arising from the vibration of hair cells,” reports mobileidworld.
“According to a statement from NEC, its earbud device’s “otoacoustic authentication technology… recognizes the characteristics of a user’s ear”, suggesting that the emission is used to map the shape of the inner ear, which is presumably unique to the individual.”
The advancement of contactless, wearable technology is a clear indication of the continued progress of our industry.
The technical possibilities are endless – and NEC confirms this with future plans to commercialise the technology soon.
NEC plans to offer “services that combine individual authentication, indoor positioning, acoustic AR (augmented reality), vital sensing and other technologies”, according to NEC Business Development Division General Manager Tomonori Kumagai.
The contactless revolution has only just begun – don’t get left behind.

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Five reasons to offer contactless payments

Here at CheaperPay, we fully believe that contactless payments are the future for all businesses, regardless of size – and here are five reasons why!

1) Simplicity
This one speaks for itself. The simplicity of contactless payments has revolutionised the transactional experience for both customers and businesses.
Transactions can now take place at a fraction of a second, affording to a more positive customer experience – and that can only be a good thing!

2) Time-Efficiency
Time is becoming an increasingly rare commodity in the lives of the full-time worker. We simply don’t have time in our day to queue, key in PIN numbers or wait for the ‘correct change’.
Contactless payments solve all these issues – customers can check out in an instant, saving time for the more important things in life.

3) Security
Contactless payments account for just 0.02% of all card fraud transactions on the planet. Hi-tech anti-fraud technology is utilised by many systems, ensuring safe and secure payment for both customers and businesses.

4) Increased quantity of transactions
Customers who pay with cash have an obvious limit as to how much they can spend in your store.
Offering a contactless payment solution does not only speed up the transaction process, it may prompt customers into spending more on your products – safe in the knowledge that the buying process is quick, simple and secure!

5) Customer Retention
A summary point here, but still relevant! Customers who are regularly receiving quality, efficient service from your business will be far-more inclined to return again and again. This will build up a great rapport with regular customers and greatly enhance the reputation of your business!

So, there you go. Go Contactless today with CheaperPay!

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Why the new £1 coin could be the last ever made as Britain moves towards a cashless society

The two-tone pound coin boasts innovative security features which supposedly make it the most secure on the planet. It is also the first UK coin in circulation since the threepenny bit to feature a design of octagonal proportions.

But despite its impressive design, there’s every chance that this will be the last £1 coin in the history of our currency.

Why?

The decline of coins and notes is not just being driven by the convenience of alternative, more high-tech payment methods – it’s also because of the simple fact that cash costs money to make!

The UK is a world leader when it comes to alternative payments. In 2015 alone, Brits spent over £21bn via contactless payments – more than any other country on the continent.

This explains why every business, from popular chains to pop-ups, know that their customers expect to be able to pay by their card, mobile, or wearable device – and over 17.m UK businesses now accept payment cards.

As if we needed any more proof that it’s time to convert to contactless and mobile payments, we now officially have it!

Get in touch with a member of our team today to identify the payment solutions that are perfect for YOUR business.

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Get Your Free Quote

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Get free quote from us today…

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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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CheaperPay VS The Major Banks

We understand that many people, for peace of mind would opt to go to their bank for their business needs. However, in an age of uncertainty moving forward with cases such as Brexit, we would ask that you look into our services and how we can provide the same service as your bank for your business, but for LESS.

Starting a new business is a risk – with you investing in a business it’s important to make savings wherever you can. That’s why when you sign up we give you three months FREE to ensure that your business is definitely up and running. Unfortunately, signing a contract with a bank means you are unlikely to get the same benefits.

We make sure that when you sign up with us, you get a personal touch. We make sure you’re up and running with our machines within 2 weeks and that you get a monthly statement every month. As well as that, you’ll get the peace of mind knowing that when a transaction is made, it will appear in your business account within 2 days plus the transaction date.

You are also likely to face extra charges when you apply with the bigger banks, and hidden fees that could hinder and hurt you financially in the long-term. We make our service crystal clear, and we wanted to give you that extra peace of mind by giving you not only three months free, but even £50 when you refer a friend to us. We endeavor to make your business feel part of a community.

For more on how we can help transform your business, contact us today!

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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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PCI DSS: Secure Your Security

In 2014, there were 62,264 reported cases of credit card fraud. When customers come to your business to purchase items, they are trusting you with their security information and it is your responsibility to ensure that the appropriate security measures are in place so their financial information is safe.

PCI DSS is the Payment Card Industry Data Security Standard. What this means, is that your customers are protected from any fraud that may happen as a result of their transaction. If you refuse to use PCI DSS, you’ll be fined and may even be forced to remove payments by card at your business – leading to less profit.

There are 12 high level requirements, and they fall into the six categories:

Build and Maintain a Secure Network

1. Install and maintain a firewall configuration to protect data
2. Do not use vendor-supplied defaults for system passwords and other security parameters.
Protect Cardholder Data
3. Protect stored data (use encryption)
4. Encrypt transmission of cardholder data and sensitive information across public networks

Maintain a Vulnerability Management Program

5. Use and regularly update anti-virus software
6. Develop and maintain secure systems and applications

Implement Strong Access Control Measures

7. Restrict access to data by business need-to-know
8. Assign a unique ID to each person with computer access
9. Restrict physical access to cardholder data

Regularly Monitor and Test Networks
10. Track and monitor all access to network resources and cardholder data
11. Regularly test security systems and processes

Maintain an Information Security Policy
12. Maintain a policy that addresses Information Security

By paying for PCI DSS you’re actively helping to ensure that not only your customers are protected, but your business is too. You’ll also avoid fines and addition fees that can tally up without PCI DSS.

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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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Contactless Rings & Selfies: Revolutionary Ways To Pay

A selfie is just another photograph to post on your social media accounts, right? Wrong. Selfies could very well be the new way to pay for your goods and services! Not only that, but wearable technology has revolutionised the way we can communicate and track daily activity. It’s no wonder that they’re now a viable option to pay for your goods with.

Contactless Rings
Not just a fashion accessory anymore, a ring can be used to pay for all of your essentials when you’re out shopping. The convenience for the wearer means that in the event that they lose their card or cash, or forget to bring it out with them there’s no reason they still can’t walk away with the goods they want. Not only does this mean they get to purchase what they need, but your business doesn’t lose out on a sale that day.
One of the most convenient facts about the contactless ring, is that it doesn’t require a smartphone to use, nor does the ring need charging at all. As long as the customer is wearing one, they’ll be able to pay for whatever they want.

Selfie Pay
The phenomenon of the selfie has taken off significantly in the past several years – even earning itself a definition in the Oxford dictionary. It was only a matter of time before selfies would become a daily habit – and perhaps even a daily necessity. A new app called ‘Selfie Pay’ aims to help customers make secure transactions without the need for a pin number or password. By using biometrics instead of passwords, the app aims to make it the securest form of payment possible; after all, you can’t replicate someone’s face or hack it as passwords often are.

The future of payments
Whether you’re a fan of these payment methods or not, their value to businesses is undeniable – and it’s hard to imagine a future in which these types of payments weren’t helping businesses to boom and make more and more profit every year.

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GOOD LUCK EVERYONE!

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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!