alternative payment providers

UK Small Businesses Favour Banks Over Alternative Payment Providers

UK Small Businesses Favour Banks Over Alternative Payment Providers

59% of UK small business owners favour traditional banks over alternative payment providers, according to a report by Visa Europe. The survey of 750 UK small business owners found that just 11% would opt to use payment services from telecoms companies, while 6% would use social media providers (6%), and 40% would use online payment services, suggesting there is a sense of distrust for alternative payment providers. Just 30% of respondents claimed to be “completely satisfied” with the range of payment options available, with this figure increasing to 40% amongst sole traders. 56% of sole traders use online banking with 32% using their debit card make online payments – suggesting they are the most comfortable with alternative payment methods. Despite this, just 9% said they accept online car... »