Cash or Card?
Cash is no longer king since debit card payments overtook cash in 2018. More businesses have started to opt for card-only payments, as there is less hassle involved and reduces contact through contactless payment. See our points below which highlights the benefits of accepting card payments…
Cashing up and banking:
- There’s no hassle of cashing up
- Banks charge verifying fees for cash deposit, usually fixed, in contrast to card payments more commonly charge a transaction percentage
- Less risk of theft with card payments
Handling cash at the till:
- Time spent exchanging notes and coins could affect your ability to accept more transactions through contactless tap
- Plus, the issue of having the right about of change, staff sometimes giving back more change and accepting fake notes
Effect on consumer spending to say no to cards:
- Today’s consumers are less tolerant to lack of payment options, so a “sorry no cards” from a shop is likely to end that customer relationship
- But if you accept both options, comparing the average transaction value of each tender will usually reflect this difference
Novus Pay:
- We will compare the widest range of payment solutions in the marketplace to help you find the best possible package customised to your needs as a business
- Saving you money on card processing fees
- We offer simple and concise advice when finding the right package for you
- We will work with you to assess your needs before matching you with the best hardware and software supplies, all at the lowest possible rates.
