How you take payments is crucial for any small business. And the Covid-19 pandemic has accelerated the shift away from cash to contactless. According to UK Finance, the total value of contactless transactions in 2021 hit £165.9bn, more than double the amount recorded in 2019 pre pandemic.
However, whereas before taking card payments was just a matter of renting a card reader, today’s payment systems are truly sophisitacted, connecting your till, your inventory and even direct to your bank account – which means you can even borrow money against your cashless payments. Today’s payment systems are seamlessly connected.
But where do you start when it comes to contactless payments? What’s the best electronic payment system to use? How do they compare?
On this page, you can discover 11 of the best payment processors, which card payment machines are idea for your small business, optimising cash flow with cashless payments, the best payment systems for outdoor festivals, pop-ups and street food markets, and even which is the best payment system for accepting US dollars.
11 of the best payment processors for UK small businesses reviewed to help you choose the best payment system for your SME
In most cases, you need to have a merchant account if you want your business to be able to accept card payments. Essentially, a merchant account processes electronic card payments between a customer’s bank account and your business bank account. Simple, right? Actually, there’s more than one type of merchant account, and a variety of […]
No matter how small your business, it’s never been easier to reach a global marketplace of customers. But there are hidden costs to making and taking international payments that can unnecessarily dent your margins. You can’t avoid these fees completely, but there are a variety of global payment services that can help you cut costs […]
It’s now easier and more affordable than ever to set up an ecommerce website and start taking payments online. You can create a website and reach millions of customers in minutes, who can then make a purchase at the click of a button. But what exactly do you need to take payments online? How do […]
A PDQ (process data quickly) machine is a device used by a merchant that, as the name suggests, quickly processes and approves card transactions. So what’s the difference between a PDQ and a card payment machine? There isn’t one. PDQ, card machine, chip-and-pin machine – they’re all different names for the same thing – a […]
Whether you don’t operate from a physical premises, or you want to reach customers who aren’t able to come into your store, if you want to maximise sales, having the capability to take card payments over the phone is a vital function for every small business. To get started, all you’ll need is a phone, […]