By Daniel Hunter
With the arrival of Apple Pay and the imminent launch of the game-changing Samsung Pay App, ParcelHeros say small retailers will count the cost of not adopting new payment methods.
Savvy internet shoppers are enthusiastically adopting new payment technology to speed up payments and ensure their transactions are secure. Now, technology-led courier ParcelHero says small and medium-sized enterprises (SMEs) and start-ups must keep on top of changing trends to ensure they are not left behind in the build-up to Christmas.
Apple Pay is well-established in the US and already a hit in the UK following its July launch; Google’s Android Pay is imminent and Samsung’s new Pay App arrives in the US in September and will have its European launch first in the UK.
ParcelHero's David Jinks said: "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.
"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."
Mr Jinks added: "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% of UK consumers plan to set a strict budget this Christmas and stick to it. The majority of UK shoppers (59%) 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."