Imagine walking into your favourite local cafe, asking for an expertly brewed flat coffee and paying for it by tapping your card or phone. Not only does it make for a great guest experience, but it also provides the local cafes you love so much with hope for their future and to provide epic guest experiences for years to come.
The Rise of Cashless Payments in the UK
What does going cashless mean for your favourite local diners and markets? It can mean a shorter queue time that makes everything easier and more efficient and needing little or no cash to make everything work. Plus, it’s not just restaurants and cafes, street food vendors and markets have traditionally been infamous for only accepting cash. But today, you’re likely to see “card payments accepted” signs and it’s paying off.
How It Impacts the Local Food Scene
This big move in UK payment trends isn’t only a gift for diners. It can also mean the difference between survival and failure for small food businesses. Just think of one deli based in a small village in Sheffield. Pre-pandemic, it was cash-only. However, the neighbourhood’s customer service and the local economy have changed. They have invested in a card reader to ensure they didn’t lose business.
Following this move toward enhanced experiences, the business thrived. In fact, it skyrocketed, especially for bigger ticket items. Soon the store became a hotspot for tourists relaxing for the summer and customers hoping to experience all the stops and flavours of their local region.
While the cashless revolution is great for customers and businesses, there are still some challenges, namely costs. Transaction fees and the initial set-up can be a big ask for smaller food vendors. However, many find the benefits far outweigh these costs, especially when it means a much bigger customer base and fewer risk-related store visits.
Insights from the Latest Report
New data on payment trends suggests that almost half of UK consumers prefer digital payment over cash. Most of them note safety and convenience as key drivers. To compete, small business owners should consider options that cater to all types of customers. Services like Xero can help you manage the transition, offering easy-to-use tools to record sales and manage your finances.
Adapting to Customer Expectations
In the local food scene, staying on top of your game is about more than just great food. It’s the entire experience, from when your clients walk into when they pay. Sure, cash is quick and easy but how do your clients feel when they can’t get their bill below $30 because you don’t accept cards and they don’t have enough cash?
Offering digital payment ensures your customers have a seamless experience from start to finish with your business. It says you’re open to new ideas and are ready to adapt to the times.
The Future of Dining in the UK
The cashless revolution is only starting to take place in the UK, so as a local business owner, keep it simple and stay relevant. Despite the bumpiness of rolling out cashless payments, there are more than a few attractive incentives to making the move; from improved loyalty schemes to increased efficiency.
