When you’re running a business, it can be tricky to keep up to with the latest payment technologies in a rapidly evolving market.
Sage Pay has released their annual Payments Landscape report, a study of payments in the UK. Now in its fifth year, the report provides an insightful portrait into the industry, from what’s happening on and offline, to emerging innovations, new technology and the rise and fall of consumer preferences.
Having surveyed 1,000 business decision makers and 1,000 UK shoppers, the result is a aimed at providing businesses of every size with a clear view of where they are and where they need to be in the upcoming year. It’s packed with statistics, advice and case studies – all of which will help you to increase those all-important conversion rates.
And as one of their trusted partners, we are able to offer you this report.
Here’s a taster of some of the key findings, at a glance:
Cash is dwindling in popularity and with cash costing and average of £3520 per year through storing, transferring and handling fees, it’s no surprise. Plus for the first time ever, the number of cashless payments made, has overtaken the number of cash payments.
Security came out as a first preference over cost, convenience and speed, with 55% saying it was there top priority.
A substantial 84% of businesses who have integrated their back-office systems expect an increase in revenue, while 79% experienced an increase in the previous year
41% of business said they would consider offering social payments but almost half of consumers aren’t convinced
Discover more trends that are shaping the marketplace.
You can download the full report here.