Every year we as a country take another step forward to a cashless society, now this may be good news for some but there are many sectors where cash is unfortunately still king. Can you remember the last time you carried cash and not just loose change to pay for parking or a bus trip? This trend is increasing year on year and it is estimated that Sweden will be the first country to achieve this closely followed by their Scandinavian neighbours.
At First Payment Merchant Services we are always looking for developments in the Fintech industry especially in the form of digital payments. This is a process we have followed for many years which allows us to implement cutting edge payment solutions for our customers and innovative ways to assist your business.
Forbes recently stated that – It’s no surprise that digital payments are moving fast. Ten years ago, six out of every ten transactions were cash. Now it’s three in ten. And in another decade, it could be as low as one in ten.
Knowledge is power, and we must equip all communities with the information to understand how digital payments can benefit them.
This is why First Payment Merchant Services invests heavily into finding and developing the next payment solution for your business.
Vicki Kelson at First Payment Merchant Services has recognised a potential threat in the cashless society where charities are involved. Many charities rely on cash donations and may have difficulty in taking other payments which in turn affects our most vulnerable people in society.
Following recent research and numerous meetings with those concerned in the industry, First Payment Merchant Services will be the first merchant services provider offering a solution for these charities. Vicki and her team really understand the pain charities go through to maintain the cash flow and that budgets are tight.
It is well known that digital payments irrespective of the method yield more than a cash donation and we are more likely to make a £5 donation if we can pay digitally.
Vicki Kelson commented: – “At a time where many charities are really struggling we must as business owners look at giving our time and resources to help them through these difficult periods. We as people have all moved on and a cashless society is something happening now, my senior management team and I have worked hard to offer the solutions needed and we are delighted to now be in a position to give back. We will assist with the Gift Donation process reducing the current time spent on completing paperwork, minimise fraud and provide a seamless, pain fee opportunity for charities to transform their processes”.
First Payment Merchant Services have various payment solutions available to charitable organisations which have been developed with the business in mind. An example of this would be the much-loved collecting bucket/tins which can instantly be turned into a cashless donation point with the use of our unique stickers which attach to the tin or these can be upgraded to our digital collection boxes. There’s a minimal cost to do so and you can also collect donor data and recover Gift Aid too, it really is as good as it sounds so get in touch today and start making cashless, pay for your charity.