Bradford market traders adopting Chip & PIN payments to meet demand
Market traders in Bradford are beginning to take card payments as studies show the nation is becoming increasingly reliant on card payments.
They’ve adopted the payment technology from Retail Merchant Services, the largest independent card processing provider, allowing customers to pay electronically using debit and credit cards in addition to cash.
The first market trader to adopt the portable GPRS Chip & PIN terminal was Junaid Ashraf, who recommended six other market traders who can now allow customers to pay electronically using their debit or credit cards.
Mr Ashraf, a stall owner at the Bradford markets, said: “Being able to accept card payments is new to me but it’s important as fewer customers tend to carry cash.
“More and more of my customers started to ask if I took card payments and it became apparent that I needed to accept them or risk losing customers.”
According to current account data published by Halifax earlier this year, our nation is more reliant on card payments more than ever before, with only £17.99 out of every £100 spent in the UK coming from cash, which is £3.03 less than in 2013.
It is also reported by the British Retail Consortium (BRC) that the acceptance of card payments contributes to an increase in average spend per customer.
Gareth Poppleton, managing director of Retail Merchant Services, said: “Each year fewer and fewer consumers carry cash and if market traders are to thrive they need to move with the times and offer a current and accessible payment option.”
