Independent retailers must embrace new payment tech to avoid being left behind this Christmas, claims international courier ParcelHero.
Apple Pay is now established in the UK following its July launch and Google’s Android Pay and Samsung’s new Pay App are on the way.
"Retailers who haven’t kept up with the latest new payment methods need to embrace new technology quickly to ensure consumers don’t vote with their feet come the Christmas sales period," said ParcelHero’s David Jinks MILT.
"Around 250,000 locations in the UK alone should be able to use Apple Pay; and smart retailers will ensure they are one of this number.
"In addition the revolutionary new Samsung Pay system won’t even need special equipment. It doesn’t require new Near Field Communications (NFC) but will work off ‘old skool’ magnetic strip readers, using clever new Magnetic Secure Transmission technology that effectively tricks existing magstrip terminals into registering they have been swiped.
"It shouldn’t be the case that only the major retailers gain the benefits of the latest switch in consumer behaviour. SME’s need to be proactive about embracing new technology. ParcelHero’s latest research reveals 40 per cent of UK consumers plan to set a strict budget this Christmas and stick to it.
"The majority of UK shoppers (59 per cent) believe a prepaid card with a set limit to spend on it would minimise the risk of overspending, and they are also considering new payment technologies to help them stick to their budgets."
Jinks continued: "In the UK, Apps such as EE’s Cash on Tapp mobile App has been widely accepted – although so far they are often limited to transactions under £20. Additionally a number of personal finance Apps proved very popular last Christmas with tech-minded shoppers.
"Apps such as Money Dashboard and Spending Tracker enabled consumers to keep an eye on all their expenses, from gifts to coffees."