10 | Hospitality Today | Oct/Nov 2015


Electronic payments in


the hospitality sector by Philip McHugh (right) CEO of Barclaycard


Business Solutions Ensuring customers have a positive shopping experience is a vital component for the long-term success of merchants. The lasting impression your customers have based on their customer experience is a key factor in determining whether or not they become loyal to your brand.


The ability to save customers time is fundamental to this. Accepting card and contactless payments, for example, is one simple way to achieve this as it means customers need not worry about having cash to hand or wasting time visiting an ATM.


The importance of electronic payments


Research by Barclaycard revealed that UK businesses lose out on more than £7 billion each year simply by not offering credit and debit card payments. In addition, a staggering one in six customers will walk away from a sale if they can’t make a purchase with a card, showing just how integral this simple requirement has become to consumers’ lives as well as to company revenue.


Electronic payments also provide insights to retailers, and help them to develop targeted sales and marketing strategies. What’s more, setting up payments technology has never been so advanced, secure, or easy for merchants.


The move to contactless


At Barclaycard our role is to make clients more successful and help them find the right mix of payment solutions to meet their customers’ evolving needs. Taking contactless for instance, our latest figures show that spending activity has tripled in the last 12 months, rising 150% in value and 134% in volume. This means that accepting contactless payments has become even more important for merchants in the hospitality sector, and even more so now that spending limit has risen from £20 to £30.


Finding the right mix


In today’s ultra-competitive environment, providing customers with the choice to pay in the way that is right for them will not only ensure you capture every sale, but will also be a determining factor on whether your business will survive or thrive in the long-term.


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