Whether you are just starting out in the grocery business or are already well established in this sector, quick and secure payments are critical to the future success and profitability of your business. WorldPay currently helps over 300,000 businesses accept a wide range of payments, around the clock, through over 70 different payment methods, and in multiple currencies – and is well-equipped to provide payment solutions for your business.
If you are dealing with online or face-to-face transactions, investing in an effective system is an instant way of improving your bottom line. WorldPay, which includes the UK face-to-face payments business Streamline, processes nearly one in every two transactions in the UK. With a solid and robust platform, Streamline processed over 700 transactions per second at its peak in the run-up to Christmas 2010.
The ability to process efficient and secure card payments is vital to the success of your business. Card payments are now more popular than ever as they offer customers the convenience of a fast check-out with the opportunity to spend as they wish, rather than being limited by the amount of cash carried around in their pockets. Not only this, but accepting cards has a number of other benefits for your business. In a survey undertaken by WorldPay, 41% of retailers said card transactions saved them time at the tills and 31% said accepting cards saved them time on their day to day banking. In turn, this should lead to happier customers as they spend less time queuing, and an increase in your takings as they can spend more than is in their wallet.
With certainty and security being primary concerns for many grocers, card payments can help you to resolve these important issues. One in five of the retailers WorldPay spoke to said that card payments decreased the number of disagreements with customers over change, and that they reduced the amount of cash held at the till providing further security benefits.
New innovations in this sector also give the potential to save your business time and money. Streamline has launched a number of innovative payment solutions to help you do this, including contactless technology and the next generation of IP broadband terminals. As Matt Rowsell, Chief Commercial Officer for Streamline, explains: “Contactless technology, whereby consumers can make a payment by tapping their contactless-enabled debit and credit card against a secure contactless reader, is becoming increasingly accepted. In the last year, the UK contactless transaction limit was increased from £10 to £15, which has widened the suitability of the technology for grocers and supermarkets.”
Streamline launched its IP broadband offering in 2010, providing the quickest transaction time on the market for a terminal of this type. An IP Broadband connected terminal can provide your business with much faster transaction times, by speeding up the check-out process and avoiding queues. It also means freeing up a telephone line. Customers are rewarded with a better in-store experience which can increase their loyalty and spend, so they will come back time and time again. If implemented correctly, these new technologies mean you can offer your customers a low cost, fast and secure payment option.
If you are thinking about taking your business online or already have an internet presence, WorldPay has years of experience helping companies set up and run online payment systems. With online transactions up 15-20% compared to last year according to industry figures, and internet spending predicted to account for 40% of all retail sales by 2020, the ability to process payments online is certainly one to carefully consider. WorldPay’s Business Gateway solution comes with all the features you’ll need to trade online, including an internet merchant account. Whether you represent a large supermarket or are a small independent grocer, WorldPay is able to create a bespoke solution to meet the exact requirements of your business.
Having helped companies over a number of years with fraud prevention, the team at WorldPay has seen how the growth of online and offline card payment systems has been matched by developments in the fraud industry. WorldPay has developed a number of fraud prevention tools to help combat this. In the past, fraudsters have been able to take advantage of those retailers who may not have appreciated the value and the risks associated with the management of card payment devices installed within their stores, but this is starting to change and WorldPay’s expertise can help to put your mind at rest.
In order to keep merchants informed of the latest legislation and how to become compliant, WorldPay has an experienced team of Payment Security Consultants responsible for supporting and educating merchants. WorldPay has also developed a Safer Business Handbook to provide an overview of payment security and will be hosting a seminar on the Payment Card Industry Data Security Standard (PCI DSS) at the Retail Business Technology Expo.
Visit WorldPay at stand 132 at the Retail Business Technology Expo 2011.
Go to www.worldpay.com or call one of our dedicated consultants on 0800 01 01 66 for further information on how taking cards could transform your business.