Business

Card minimums & cash-only: We’re avoiding shops that don’t get with the times

By Oliver Smith 6 June 2016
Summary

Cash-only, minimum card payments, these are all things that deserve to be banished to history.

We’ve all been there, walking into a corner shop only to see that annoying “£5 card minimum” sign, or the even more dreaded “cash only” notice.

It seems crazy that in 2016, at a time when cash is going extinct, that there are 60,000 small businesses in Britain which still refuse to accept card payments.

Read more: Forget cashless, Britain is on track to become a cardless society

But now shoppers are starting to fight back.

One in four of us have started avoiding shops that don’t take card, according to research from payments giant Worldpay.

“For today’s digitally driven shoppers, cash has become a relic,” said Dave Hobday, the UK boss of Worldpay, which handles nearly half of all card payments made in Britain.

Even more annoyingly, 10% of shops still levy a minimum spend on card payments, like that “£5 card minimum”, or charge you more to use card if you’re buying something cheap, like a “50p charge on card payments under £5”.

iZettle lets small businesses take card payments across 12 countries.

A new hope?

There is hope however, companies like iZettle are smashing down the barriers for small businesses, corner shops and market traders to take card payments.

iZettle’s boss told The Memo last month that a fear of the cost of card payments was the number one reason why thousands of small businesses have been reluctant to embrace them.

Read more: iZettle’s boss is on a mission to kill cash

Meanwhile, Worldpay has launched a campaign to raise awareness amongst small businesses about the benefits of card payments and selling online.

Lets hope that our corner shops and market traders get with the times and finally put those “no cards” signs where they belong.

In the bin.