Builders, hairdressers, plumbers and window cleaners can now accept to accept debit and credit card payments on the go.
Limiting themselves to cash-only payments is knocking 20pc off the revenues of Britain's four million mobile businesses and sole traders, according to a new survey. Market-stall holders, beauticians and window cleaners – among other mobile workers will now be able to open up their businesses to new customers who don't wish to pay cash thanks to a newly launched mobile chip and pin device. According to the survey, supporting the launch of the new WorldPay Zinc device, not accepting credit and debit cards restricts sole traders. Customers are less likely to trust traders who only accept cash, and are less likely to spend more on extras if they cannot use a card.
Sole traders need to register for the WorldPay app and can buy the chip and pin device from John Lewis from £59.99. There is no long-term contract commitment or monthly subscription fees, it is simply pay as you go, meaning that businesses can use the service as much or as little as they like. However – customers will incur extra charges of 2.75pc per card payment, which they would not be privy to for usual chip and pin transactions.
The device has been in road-tested for the last six months by 3,000 small businesses to positive effect.
Geraldine Wilson, managing director of WorldPay Zinc, said the feedback has been very positive.
"These businesses are reporting increased revenues with significantly higher average transaction values for each sale; on top of this, we’re also hearing that these tradespeople are spending less time chasing customers for payment and trekking to the bank to pay in cash takings," she said.
“As consumers, we’ve all been in that awkward situation where you haven’t got enough cash on you to pay for something and card payment isn’t accepted. It’s embarrassing and frustrating. Our aim is to be the payment partner of choice for small businesses and sole traders, supporting the growth of this vital part of the UK economy that employs more than six million people.”