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November 7, 2013

SME card payment service launched by UK post office

The UK's Post Office has revealed the launch of a card payment service for small and medium enterprises (SMEs).

By Isabella Grotto

The UK’s Post Office has revealed the launch of a card payment service for small and medium enterprises (SMEs).

Offered in partnership with payment processor WorldPay, the service will enable traders to accept card payments in store, online, via post or telephone through a range of tailored services.

Commenting on the service, Alan Smith, head of payments at the Post Office, said: "The Post Office welcomes over 40% of small businesses through our doors each week and we’re confident this new service will make doing business easier for them, which is a big priority for Post Office.

"More and more shoppers are paying by card and these new services mean that we can help more small businesses offer this flexibility to their customers."

Research by WorldPay showed that 87% of customers spend more when carrying out transactions via card instead of cash.

It also revealed that in the last twelve months one in five UK shoppers were forced to cancel a purchase due to a small business or sole trader not taking card payments.

Dave Hobday, managing director of streamline at WorldPay, commented: "Of the 3m small and medium sized businesses in the UK who could take card payments, today only 1m do – which means over 2m are missing out on access to the most reliable payment solutions available to grow their business."

Operating a network of 11,700 branches, the Post Office serves nearly 50% of small businesses in the UK each week.


Related articles:

Contactless payments at UK Post Offices

WorldPay snaps up Century Payments

Zapp and WorldPay to bring m-payments to millions of Brits


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