Pocket-Lint: The next time you go to a farmers market in the UK expect to be able to pay with a credit card thanks to the launch of iZettle, a new chip and signature payment system being rolled out from today in the UK for small businesses.
The new system run by iZettle, the European equivalent of Square, will come with no monthly fee, but will charge merchants a 2.75 per cent handling charge on every transaction businesses make with the system.
Accepting payments for your services is always a key requirement for a small business, and increasingly card is the payment method of choice in the UK with debit and credit cards used for three in every four pounds spent in shops – up from two in every four just a decade ago.
Cash is king is an expression dating back nearly 30 years, but in the retail market at least it’s becoming less and less true. Cards may not have the same physical attraction as the famous Britons featured on our banknotes, but they are more convenient and less risky to carry around.
The UK Card Payments 2014 report reveals that Britons spent £520 billion on UK goods and services using their debit and credit cards last year.
