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“Which terminal should I use for my business?” The Guide

When starting out a business nowadays, big or small, one of the more important things is to make sure you’re prepared for multiple types of payment, as cash-only cuts out a sizeable portion of your customers.

It’s something rarely taught, and jumping into the world of business will sooner or later present you with this question: what type of payment terminal do I use?

Credit card machines can be broken down into three main types – countertop, portable or mobile. In this post we will consider the positives and negatives of these three types, and you can decide for yourself which would benefit your business the most.

 

Countertop Machines

Countertop machines are cheap, sturdy and have a hardwired connection to the business, making them the common choice amongst many small businesses. Costing around £100, they’re far better than the portable choice when it comes to price, being up to 3 times cheaper in the most extreme cases, but depending on who you buy them from.

If your business is a small one where the vast majority/ all of the payments are made at the counter such as a coffee shop, local bakery or something else that fits this bill, this is probably the best card machine for you. Along with not needing to be reliant on Wi-Fi or battery charging, this is definitely a great option for any store selling fast-food, clothes or a multitude of other things.

Businesses that mainly use countertop machines consist mainly of retail, with the big players including major supermarkets and department stores.

 

Portable Machines

With businesses that require a lot of moving for its staff, having a portable card machine when having a transaction with a customer can be a godsend.

Restaurants and bars are ones that can highly benefit from this as there’s no need to manage a queue at the counter (it opens up the option of a customer paying at their tale) or fumble with change when it comes to paying at the table. This speeds up the process and leaves everyone happy.

Portable machines work through a Wi-Fi connection. Don’t have one? Then simply hook them up to a standard landline and they’ll work just as fine. They will need to be recharged, however, having an average battery life of eight hours and work at a range of up to 200ft. As long as you have a safe charging point and aren’t operating in a multi-level building (where we’d recommend having multiple terminals), you should have no problem with this.

 

Mobile Machines

Portable devices sound great for a lot of businesses, but what if your business ignore the slight flaws of this method, such as the limited range of the connection? What if your business is a delivery company or taxi service, where constant internet/ landline access isn’t always possible, and you can’t simply install a countertop reader?

Well, as long as where you are still has mobile network coverage, then mobile card machines may be right for you. With the flexibility of just needing a mobile and a connection, as well as the charging ports being far more convenient, this option is definitely the best for businesses that aren’t able to have either of the other two options.

These devices work through a SIM card that will connect the machine to a mobile network. Newer varieties such as the iZettle reader, however, make things even simpler by instead just connecting your phone through an app with no need for a specialised SIM card.

With the minimum amount of hardware compared to the other two options, some only requiring the reader and connection to a phone, it seems like the best choice for a business where the employee is always on the go, even more so than the portable reader.

Other businesses that can benefit a lot from mobile devices include and kind of door-to-door sales, from hairdressers and other services to those selling physical products.

 

The fees

A rented machine or service will usually cost up to £30 a month, whilst buying the machine outright will cost anywhere from £80-300. This does vary from place to place, but the cheapest terminal is generally the countertop one, due to its lack of freedom, with the other two being similar in price.

Along with that, there’s the transaction fees. These will depend on the amount of transactions you make within a given time, as well as whether you’re paying through a percentage of the customer’s transaction or a flat fee. The former will usually result in an intake of 2-5% of the customer’s transaction, whilst the latter will usually be a standard payment of 40p per transaction. There are some exceptions on this, such as the SUMUP terminal, which only contracts you to pay 1.69% per transaction with a direct pay-out to your bank account.

Minimum usage fees may be necessary if you’re not making enough transactions. These can usually be around £50 a month.

 

Conclusion – Which One is the Best?

Choosing a winner between the options is purely subjective in terms of what kind of business you have. To summarise, countertop works better for retail, where paying at the counter is the best option. Portable works better for environments where the workers need to move around a lot like hospitality jobs, and mobile works better for those who are constantly on the move outside of a set building.

If you’re interested in speed, the countertop option seems to be the fastest when it comes to transactions due to not relying on a Wi-Fi connection of any kind, whilst the mobile option seems to be the best in terms of versatility. Overall, it depends on what matters more for your type of business.

 

Still need help?

We are able to provide low cost terminals designed specifically for the small business market. This is why we completely avoid long-term contracts, and don’t partake in large fixed costs that would affect your cashflow. We offer all three of the terminals mentioned in this post, and can even offer further advice on request! Visit http://cheaperpay.me/request-a-quote/ to get a FREE quote.

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Make Your Small Business Big With Virtual Terminals

Being able to assure your business method is the most convenient for your customer is a priority in modern business. Credit and Debit Cards being accepted is a start, but staying ahead of your competition will probably require a Virtual Terminal and the skills to manage one effectively.

Using a virtual terminal, merchants have to log in using any web browser, go to the menu where the transaction can be processed and enter the customer’s data to the data board. Now that we’ve explained the basics, what are the real benefits of the virtual terminal?

 

Why use a virtual terminal?

A virtual terminal can be seen as an online credit card machine. Being online, it can be seen as having several advantages over physical terminals.

 

  • Portability – There’s no need to waste time searching for a terminal that may be limited to parts of the town or city, or even not there if living in a very small village. Virtual terminals allow you to make a payment anywhere as long as there is internet and the customer has their credit card on hand.

 

  • No rental fees – In most other systems, you’d need some sort of equipment to process payments and that can lead to additional rental fees for your company to worry about (if you don’t buy the item outright.) Neither of these scenarios need be an issue, however, if you use a virtual terminal. The only equipment you’ll need is a good internet connection and a computer that meets the system requirements.

 

  • Instant reporting – Real-time data transfers and reports are a major advantage of all types of credit card machines. Instant access to sales reports allow managers to properly update someone’s finances and this is even more important if your business is a small one where keeping track of every purchase, pricing and your stock is crucial for your business’ success. With virtual terminals, you can track all this information and help update all departments of your business by sharing the changes with them.

 

  • Automated billing – With a virtual terminal, you can also set up automated billing for recurring clients you work with regularly.

 

Another major benefit is reducing cases of fraud, but that’s something we’ll expand on in a short while.

 

Best businesses for virtual terminals

If your business needs to process electronic payments but lacks access to a customer’s physical credit card, virtual terminals are the best system you could hope for. Most virtual terminal users used to consist of mail and telephone order storeowners.

Now, it’s become highly popular amongst all types of retail jobs as more merchant service providers offer card readers compatible with computers. This does mean they can’t collect customer payments or debit card payments, but this can often be a small drawback compared to the benefits depending on your line of work.

 

Call centres, charities, jewellers, home appliance, doctors and beauticians are amongst the many types of smaller businesses taking advantage of the benefits of virtual terminals to the fullest. If one of these is your trade, what are you waiting for?

 

Keep things secure and reduce fraud

Now, back to a point mentioned earlier. Online transactions carry their own set of strengths and weaknesses when it comes to fraud. It can be difficult to detect a genuine order when the customer doesn’t need to present a physical credit card, though there are still ways to counter the risk of fraud.

Merchants should always treat several signs as red flags when it comes to taking orders. Some of the main examples would include:

 

  • Suspicious address – Some countries, such as Russia, have a high reputation for fraudulent transactions. Keep an eye on where your orders are going to, especially if international orders are rare in your business.
  • Strange quantities or items – Very large, bulk orders are ones that should seem suspicious. If the only variation in the item is size or colour, be wary of it being false.
  • Serial address orders – If you have many different credit card orders going to the same place, this should make it obvious that the customer may be a fraud. A couple of differences is fine for a general household. A dozen or so is a red flag.
  • Strange address – An order that’s shipped to an anonymous location to hide the customer’s true identity if a definite sign of fraud. Be very wary when shipping to a commercial address beyond the standard.

 

After that, focusing on the checkout process is highly important. Things to look out for at that point would be:

 

  • CVV Codes – Asking for a customer’s CVV code or billing ZIP code will be a big step in proving they’re genuine.
  • AVS – An Address Verification Service will tell you if the address given by the customer matches that on their credit card.
  • Tokenisation – This method hides the customer’s information in a virtual database vault whilst their public data is replaced with a substitute token. This form of data encryption makes it a lot more difficult for them to have their information stolen by scammers.

 

No matter what kind of business you have or what ambitions of success you hold, the first true step towards any of that is having the security to accomplish your goal.

 

Best terminal for you

 

After having talked so long about virtual terminals and why your business should seize the opportunity, a question still remains – What virtual terminal is right for you? There are several brands of virtual terminals such as Square, PayPal and Payline, each of which have their own talents in standing out depending on your line of work.

 

Square is best suited for businesses looking for a lot more extra features beyond the standard terminal service, being easy to set up and use with straightforward fees with no fluctuation. You can pick and choose what you need in your business, including a free online store, which makes it the best for more practical professions like construction work.

A major advantage for Square is that it comes with the virtual terminal as part of its standard package, rather than being an additional cost.

 

PayPal is the best for a business focused mainly on online transactions. They already have a virtual terminal built into their devices, which makes activating it incredibly easy. Along with this, the rate at which you would be paid is faster than the competitors, as is the ability to deposit funds.

Despite this, it does fall short compared to its rivals when it comes to being cost-effective, with its virtual terminal services being an additional monthly cost of roughly £23.

 

Payline can be considered a jack of all trades type of service compared to the other two. It focuses on acting more as a traditional merchant account provider, but also makes online payments far easier due to the focus put on its payment gateways. Like Square, it comes as part of the service rather than as an additional cost, but lacks the immediate fund deposits of PayPal.

One area where it excels is in its price, not adding any monthly fees or separate gateway fees. All that’s required is paying the base credit card company charge, a small additional percentage and a pre-transaction fee. Due to this, Payline is the best option for those looking for the cheapest alternative, even if not the fastest.

 

Once you’ve decided on your terminal, you’re ready to put all this planning into practice. You will soon be on the way to producing a convenient system to help boost the popularity of your business and perhaps turn a small business into a big one, whatever your trade may be.

 

Would you like to introduce a virtual terminal to your business?

If you’re looking to get your business ready to take payments over the phone or online, we can help. CheaperPay specialises in opening payment avenues in your business, because a customer that wants to pay a different way is a lost customer.

 

If you would like a free quote, or just more information on our services, please fill in the contact form at http://cheaperpay.me/request-a-quote/ and one of our accredited advisers will be in touch soon.

20% Of Brits Don’t Carry Cash- And It’s Only Increasing

If the latest research done by the contactless and cashless service First Bus is anything to go by, Britain isn’t far from becoming fully cashless.

In a poll with 2,000 UK adult participants, it was found that one in five Britons no longer carry cash on their person, with most of them using other methods when it comes to spending money such as chip and pin, contactless or Apple Pay. Along with that, three quarters of said participants expect any shop they enter to take card, which is a huge development from the days of exclusively cash and cheques.

Physical cash has the drawback of being limited to what you’re carrying, and may not be enough if the price of a meal or luxury item comes over what you thought it might be, as found with 44% of the research subjects.

A spokesman from First Bus, the conductors of the research, had the following to say:

“The way people pay for goods and services has evolved, so we needed to ensure our ticketing changed too.

“The introduction of contactless payments alongside our digital ticketing options means that paying for bus travel is more convenient and simpler than ever before as customers don’t need to worry about having the right change for their bus fare.

“If more customers switched from cash to contactless, or purchased a digital ticket via our mTickets app, then we would be able to offer a quicker and more efficient bus service.”

The research subjects agree the sentiment of his statement. 40% of those who don’t often carry cash agree that it’s a more convenient method, and 10% don’t like carrying something as easily lost as spare change around.

Cash is seen as a hassle to many people now. 18% will usually spend more money if they physically have it on them, and a quarter of the subjects would rather use a card because of the inconvenience of getting to a cash machine. Most of the time, they will only carry a spare pound coin for a shopping trolley. Now, 33% of adults are certain Britain will become cashless soon.

It’s not only cash that is being phased out to save on time, effort and materials. Cheques are even closer to extinction with 58% of adults admitting they don’t use them, and 40% not even having a cheque book.

Within the next few years, Britain will be expected to put down the chequebooks and pick up the phones, and it’s a welcome change for most.

Trying to catch up? We here at CheaperPay can help your company accept card. According to Santander, 60% said they would use small businesses more often if they could pay using cards. Visit http://cheaperpay.me/request-a-quote/ for a FREE quote.

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Mobile Payments 2.0: Building Better Retail Experiences

Payments has by and large been a growth business for the last half decade or so, and that fact has been mappable in scores of innovations around the world. But, as PYMNTS’ Karen Webster pointed out, for all of those advances, one is conspicuously missing from the list — and that’s despite years of predictions that its ignition was just around the corner.

“Here’s one thing that the last three years hasn’t done: Increase the consumer’s appetite to turn their smartphones into a digital payment form factor when they check out in a physical store,” Webster said.

That reality was born out by two-and-a-half years of PYMNTS and InfoScout tracking figures in the marketplace through the Mobile Payments Adoption and Usage report.

Apple’s CEO, Tim Cook, can accurately boast that Apple Pay is far and away “the number one [near field communication (NFC)] payment service on mobile devices, with nearly 90 percent of all transactions globally,” but the reality undergirding that brag is that 90 percent of a really small number is an even smaller number.

After three years in the market — and no lack of fanfare — Apple Pay adoption rates have just barely gotten above the 5 percent mark. That is an accomplishment, though, as Samsung Pay is just over 4 percent after two years and the team at Android Pay devoutly hopes 2018 might be the year it cracks the 2 percent mark for usage.

As it turns out, consumers weren’t looking for a new form factor. It seems they like their payment cards just fine, understand them and know they work everywhere and, as such, customers are happy to whip them out at checkout nine times out of 10. That doesn’t mean they are deliriously in love with their payments processes and couldn’t be incentivized to make a change, however.

According to the PYMNTS’ How We Will Pay study, a Visa collaboration, 60 percent of consumers find their online and in-store shopping experiences unproductive, inefficient, time-consuming and even boring. The same study showed 66 percent are open to using devices to connect to a seamless payment experience.

Customers are looking for new and better ways to pay, but a change from a card to a phone isn’t registering as a better way to pay so much as it is registering as the same experience — now with a slightly different object in one’s hand.

Retailers in 2017 have seemingly started to come around to that idea. They have realized that while mobile payments alone aren’t sufficient to do much in the way of altering consumer behavior, mobile payments wrapped around a faster, cheaper and easier shopping experience might actually have some legs after all. If the first round of the “Pays” were dominated by technologists and financial services players, the 2.0 version has been much more about retailers and the value they can find via mobile.

The early figures even indicate that some are gaining a foothold.

Walmart Pay’s Rapid Rise  

According to the PYMNTS and InfoScout figures, Walmart Pay is showing the most potential in the shortest amount of time. With a year in the market and an adoption rate within striking distance of Apple’s at 5.1 percent, the data also showed 47.2 percent of respondents who shop at Walmart use it every time they can. Only 6.6 percent said they’ve never considered using it at all.

But Walmart’s real payments secret sauce is the value-added solutions around money and customer services the company built into the app that houses Walmart Pay. Consumers can also use that app to initiate wire transfers through MoneyGram, check gift card balances, apply coupons and have all receipts sent automatically to its Savings Catcher function.

The point, according to Walmart’s senior vice president of services, Daniel Eckert, is to meld payments into Walmart’s larger mission of saving time and money for the busy families that make up its customer base.

“There is something very powerful about the ease and simplicity of Walmart Pay,” Eckert told PYMNTS. “What’s even more powerful though, is what this means for our customers. We want to make every day easier for busy families. We’re connecting all the parts of Walmart into one seamless shopping experience with great stores, easy pickup, fast delivery, frictionless checkout and apps and websites that are simple to use.”

Walmart still has hurdles to clear, and high ones. Cash remains Walmart customers’ favorite payment method, and EBT cards can not be added to digital Walmart accounts for payments. But Walmart Pay, which is nearly unique among mobile wallet players, has built payments into an overall omnichannel experience that is sticky for consumers and gaining ground fast.

We look forward to 2018’s additions.

Target Jumps Into the Mobile Payments Race

Target was among the retailers who entered 2017 most eagerly hoping to hit the reset button, and rumors about it adding mobile payments to it services lineup began swirling early that January. Outside that initial tease, however, not much was heard on the subject until 2017’s closing weeks, when Target rolled out with a mobile payments platform of its own.

Notably, the company is not calling the offering “Target Pay,” though most tech writers seem to be.

Instead, Target announced in early December that it would be adding a mobile Wallet feature to its mobile app and offering consumers the opportunity to enter their Target REDcard credit or debit card into the wallet and use it to pay directly at the point of sale. Using its eWallet, Target customers can also use Cartwheel — its price matching feaure — with a single scan of their mobile devices at checkout. The goal is to make checkout quicker, and to offer convenient digital savings by including Cartwheel offers and weekly ad coupons, along with the 5 percent REDcard discount.

“Wallet in the Target app makes checkout easier and faster than ever,” said Mike McNamara, Target’s chief information and digital officer. “Guests are going to love the convenience of having payment, Cartwheel offers, weekly ad coupons and gift cards all in one place with Wallet.”

Target has further noted that gift cards and other rewards will also soon be storable within the Wallet. Echoing a theme, the company’s payments upgrade comes in the context of a broader digital push that has seen it moving more aggressively on eCommerce and omnichannel pursuits.

The retailer recently announced its new GiftNow service powered by Loop Commerce. The GiftNow option can be selected when viewing products on Target.com, allowing customers to assemble and send a gift electronically. Recipients can view the gift online, select the size or color of the product or pick another item entirely, thus saving time and money for both Target and its customers by ensuring gift recipients are sent items they will want to keep.

It has unveiled it would be adding 12 exclusive brands by the end of 2018, eight of which were already available during the 2017 holiday shopping season. The brands being introduced this year include products for babies and kids and apparel for both men and women.

“While there’s an incredible amount of change happening across retail, we’re focused on doing what’s best for our guests and leaning into what makes Target special,” said Target CEO and chairman Brian Cornell. “We’re making progress against our long-term strategy.”

The PoS Free Future

In other digital trends, it appears customers don’t want to wait in line at the point of sale (POS). The overwhelming success mobile payments has enjoyed while enabling line-busting at quick service restaurants (QSRs) all over the map speaks to that quite clearly.

In a recent interview with PYMNTS, Visa’s vice president of innovations, Shiv Singh, noted we are only really seeing the beginning of that trend as regards coming trends in mobile payments commerce for the next 18 to 24 months, according to his company’s Innovations For A Cashless World report. According to its findings, retail will soon be a world in which lining up at the cash wrap will no longer be a universal experience.

“We can look at Uber, or how Starbucks now takes 20 percent of its orders through mobile order-ahead,” Singh noted. “Can you imagine going to an Apple store and lining up at a cash register to pay? No, of course not. And now we have Amazon rolling out Amazon Go — it really is only a matter of time before that experience is part of Whole Foods as well.”

Anecdotally, one has seen the “POS everywhere” concept rolling out at retailers of all sizes and shapes nationwide. AmazonGo’s convenience store of the future, through which customers can select goods off the shelf and be automatically and correctly charged due to the magic of sensors. The company has had some notable execution issues with the tech, though, and those have necessitated some delays.

Walmart’s solution is a bit less high tech, but customers in Sam’s Club locations nationwide can already scan their purchases while walking the isles. Each item’s barcode is scanned through an app, which keeps a running tally of all items in the cart. Said app also offers checkout and payment options, as well.

When they are done shopping, Sam’s Club customers can tap to pay and have a receipt sent to their phones — no need to stop at the cash registers. That receipt is then shown to a Sam’s employee on the way out the door, much the way physical receipts are checked to ensure customers are actually paying for all their items. There are rumors that a similar service is coming soon to Walmart locations, though those rumors have not been confirmed.

But as solutions proliferate — and they surely will — one thing is becoming increasingly obvious: Mobile payments as a one-to-one replacement for credit cards may not have much of a future, and the adoption numbers seem to keep singing that same tune in a variety of keys in report after report.

But mobile payments that can exceed what credit cards offer — including faster checkout, clipping-free coupons and the ability to skip the front-of-the-store POS line-up, among others — those experiences seen to really have a hold on consumers.

Which means retailers have every reason to build them, and we look forward to reporting on their efforts.

 

Source: (Pymnts, 2017)

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Paytm Says On Track To Be World’s Biggest Digital Bank

In an interview with Bloomberg published Tuesday (Nov. 28), Paytm founder Vijay Shekhar Sharma said the company is aiming to have 500 million bank accounts.

“We are unveiling our money market fund, launching our debit card and we’ll have the capabilities to allow enterprises to open business accounts,” Sharma said. “Digital payments was our entry point, we want to become a vertically-integrated financial services company.”

While Paytm Payments Bank can accept deposits and remittances, it cannot lend money to its customers. The bank will be the country’s first mobile-only bank that does not charge fees for online transactions and will not require a minimum balance. The bank is majority owned by Sharma, but telecommunications firm One97 Communications has a 49 percent stake. According to Sharma, the company can get around regulatory obstacles to offer lending by working in partnership with One97, which will launch a credit card and offer monthly installment-based loans.

“We will launch share trading and insurance products very soon,” he added. “We want to become an nternet-agei financial services company.”

Sharma explained his company is leveling the playfield. The banking system has traditionally been skewed heavily toward those with money, while the less wealthy people of India have had a tough time paying their bills or transferring money to family members.

“Buying insurance and investing through our wealth management products will become widely accessible through the payments bank,” he said.

Paytm Payments Bank is an offshoot of digital money service Paytm, an electronic payment firm which recently obtained a permit to create a payments bank and provide financial services to those underserved by the Indian financial services industry.

 

Source: (Pymnts, 2017)

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APPLE PAY P2P Payments Coming To Apple Watch In The Autumn

 

apple-watch

 

 

Peer-to-peer payments are coming to the Apple Watch this fall with the release of iOS 11 and watchOS 4.

On its website, Apple said that Apple Pay users will be able to send and receive money quickly, easily and securely via its peer-to-peer payment platform. The feature will be available right in Messenger, or users can tell Siri to pay someone using a virtual debit card or credit card already loaded into the digital wallet. When users get paid, they will receive the money instantly in the new Apple Pay Cash card that will reside in the Apple Wallet.

The move on the part of Apple to include P2P payments with the new iOS 11 and watchOS 4 comes at a time when the company is trying to get Apple Pay in the hands of more users. Earlier this month, Didi, the Uber of China (and, in fact, the local service that gobbled up Uber China last August) announced it has added Apple Pay support to its Didi Premier, Didi Express and Didi Luxe personal mobility services, in addition to its partner station-less bike rental service ofo, according to a TechCrunch news report.

Apple Pay is standard fare on any iOS device, allowing users to authenticate payments biometrically – today, with their fingerprints, and soon using Face ID on the forthcoming iPhone X. That’s on top of other iOS features Didi already supported, including Siri-powered ride hailing from within the Maps app or via the Apple Watch. With the addition of support by Didi, Apple Pay joins the likes of WeChat, Alipay, QQ Wallet, international credit cards and CMB all-in-one net payment, all of which power Didi’s core services. It also comes at a time of increased competition from Fitbit, which recently launched the Ionic smartwatch.

 

Source (Pymnts, 2017)

Small Business are losing out on revenue through a lack of cashless options!

New research by B2B marketplace Expert Market reveals that SMEs could be losing out on over £23,000 of profit a year because they cannot accept card payments.

Read more here, from SmallBusiness.co.uk > http://smallbusiness.co.uk/cash-smes-losing-profit-2537394/

CheaperPay for Your Business

At CheaperPay we understand that your first priority for your business is security, both for yourself and the consumer. That’s why we make sure you’re fully aware of PCI DSS adherence when using our products.

We offer a range of card machines – our Ingenico range comes with both contactless and Apply Pay options on the terminals meaning that you will never need to turn away business in the changing age of technology.

We also endeavor to make the process as quick as possible, and you will normally find yourself up and running within 5 working days. However, to ensure that your business’ security is not compromised we take all efforts and measures, meaning the process can take up to 2 weeks.

When a transaction takes place, you can expect the balance to appear in your business account within 2 days plus the transaction day. We ensure this happens as efficiently as possible so you can secure your daily profits are not compromised. We also mail you your statement every month so you can check these against your projections.

With our range of credit card terminals, you’ll be able to accept payment from Visa, Mastercard, American Express, Diner’s Club, Discover and JCB so you’re able to accept payments from all major credit cards and maximise on profit.

As we understand your business is an investment, we’re offering THREE MONTHS FREE to try out our services for yourself.

CheaperWaste Wins 2,000th Contract

  • Locally based recycling & waste management broker CheaperWaste Ltd. was established just 5 years ago and operates nationally
  • CheaperWaste now has more than 2,000 active customers, making it one of the UK’s largest brokers

CheaperWaste, established in Newcastle in March 2011, has signed up it’s 2,000th customer and is now growing at a rate of over 110 new contracts per month. The breakthrough comes during a period of rapid growth that has seen turnover grow by an average of 60% year on year. The multi-million pound company was started on a shoestring budget by James Jukes and Lucas Borthwick, operating from a back room office above a nightclub with 2 old laptops and a landline telephone.

Embracing new technology to offer a jargon-free, paperless approach to commercial waste management, the company has garnered a loyal customer base and boasts the lowest customer cancellation rate in the industry. Customers are contracted to CheaperWaste for a 2 year term, with the vast majority of customers choosing to extend their contracts.

The milestone contract was won by Trevor Cairns, the first full time member of staff hired by the fledgling company in 2011. The Company now employs 19 people full time and occupies the entire top floor of newly refurbished offices on Collingwood Street.

Kelvin Croney, Sales Manager at CheaperWaste said: “This is an exciting time for all of us here – I joined the company just after it was first formed and it’s great to have been at the forefront of a proper Geordie success story.”

The meteoric rise of CheaperWaste has spawned 3 new offshoot companies in recent years to form CheaperGroup. The group provides a variety of low cost essential services to startups and SME’s across the UK, including cleaning consumables, card payment solutions and internet services.

Chris Penfold, Finance Director at CheaperGroup said: “The UK is a tough marketplace for startups and the smaller end of our SME demographic. CheaperWaste offers essential services at rock bottom prices without sacrificing quality; a real winning combination when every penny counts, especially in an old fashioned industry where customers were suffering.”