Over 120 million transactions are lost each year in the UK through people leaving shops because they can’t pay by card, according to new research from Judo, the UK’s first pay as you go mobile card payment service using only mobile phones. A further 92.8 million opportunities to sell are lost through people avoiding shops because they don’t accept card payments.1
Over one in five (21%) consumers said that they had left a store in the past six months without making a purchase because the store didn’t take cards. Almost the same number (19%) had avoided a store altogether because they couldn’t use their card to pay.
Further research from Judo found that the majority (70%) of consumers prefer to pay with a card than cash for everyday purchases. Judo also discovered that 61% of UK consumers would spend more with a business if it took cards, while none of them would spend less.2
Businesses in London are most likely to miss out if they don’t offer card payment services – half (50%) of consumers in the capital have left a shop in the past six months because they couldn’t pay by card. On average, Londoners walk out of shops 8.6 times a year because they can’t pay by card. They’re also the most likely to avoid a shop if it doesn’t take card payments. On average, people in the capital claim they do this more than 7 times per year.
Younger shoppers are the most likely to take their business elsewhere if they can’t pay by card. Three out of five 18- to 24-year-olds (59%) admit to walking out of a shop in the past six months because they couldn’t pay by card.
Dennis Jones, CEO of Judo, explains: ‘Card payment equipment has not kept pace with technology and it’s become too expensive and technically complicated for many to use, which is why there are so many small retailers who still don’t take cards. We’ve developed a secure way for everyone to take card payments, either using the judoPay smartphone app or via an automated phone service. Retailers and traders can be up and running with Judo within minutes and never lose a sale again.”
Customers can pay using any phone by dialling judo at 0203 503 0900 or can download the judoPay mobile app from the iTunes App Store then pay by card at Judo member retailers in three simple, secure steps. After payment, both customer and retailer receive immediate confirmation that the payment has been received.
Judo has signed up thousands of retailers and traders to its service, including such diverse enterprises as dog walkers, army surplus stores, taxi drivers and tradesmen. Judo is ideal for all types of retailers and tradespeople, including those trading at events and festivals.
Suzanne Wardle from Dial a Dog Wash said: ‘I chose Judo because of its simplicity. No complicated form filling, just a few simple questions on the phone and I was set up in 15 minutes. It’s easy to transfer your money to your bank account. And the most important thing to me is that there is a friendly voice at the end of the phone if you have any queries.”
Judo is secure as well as simple for both retailers and their customers to use. : Judo complies with the Payment Card Industry Data Security Standard (PCI-DSS) and operates a fully PCI Tier 1 certified payment gateway, which is responsible for processing over a £1,000,000,000 worth of transactions a year. This is the most stringent level of security certification available for card payment companies and puts Judo on par with the largest banks and card processors in the world.
Jon Prideaux, former Compliance Committee Chair for Visa Europe and Judo board member, explained: ‘There are many emerging payment solutions in the UK that aim to help small businesses accept credit cards. Judo is the only solution where the small business doesn’t need to be a technology expert or have full data access in order to accept card payments. And, most importantly, the system is secure and fully compliant with the industry’s strict requirements.”
1 Judo Payments commissioned ICM to poll 2,030 consumers online about their shopping habits in April 2013
2 Based on a study conducted online by Judo Payments, interviewing 200 randomly selected consumers about their spending habits
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