Card Payments: Things You Should Know

Every business needs to be able to handle card payments. Shoppers these days tend to prefer paying by card and many have stopped carrying cash completely. In this video from xln, Ade and Sofia, both experts in card payment technology, are sharing their knowledge on the ins and outs of card transactions.

Card Payment Rates

The differences in rates can be staggering for a small business, especially one that makes many small transactions a day. The difference in rates can mean a saving of £7,000 per year, comparing the cheapest rates to the most expensive. This is money independents can’t afford to waste. Getting on top of card payment rates will help you offer your customers quick, easy, convenient payment options, without you losing out on unnecessary charges.

Connection Charges

Even when the difference may seem small it can build up over time. With 100 transactions a day, even something as small as a 4p difference can add up to £1,750 over the course of a year. Retailers need to remember that you’re likely to be making thousands of card transactions in a year. And that number is set to increase.

Whatever your shop is selling, it’s important to have technology on your side. No one wants to be behind the times, especially not on something as common as card payments, and no one wants to be paying the wrong rates for their business. Fortunately, the resources are out there to help you understand card payments, connection and authorisation charges and help you get what’s best for your business.

Check out Ade and Sofia’s video on handling card transaction charges with xln here.

Already on top of your payments? The next step is setting up an ePOS system to help you manage your growing business. Find out what questions you should be asking about buying ePOS here.

If you have any questions or you just want to get in touch, contact us here.