Gen Z

Charity retail and the cashless society

Guest blog by acceptcards®

acceptcards® understand the very specific pressures the charity retail sector is under. We feel we are in a unique position to help. We know that we cannot wave a magic wand to help you increase footfall and we also know we can’t find more volunteers to cover all the jobs that need to be done, but what we can do is help you make every pound taken go a bit further, increasing income to your bottom-line that can be used to deliver your charities’ services. In our first guest blog, we look to give insights to help save you time without impacting on already depleted resources by helping to cut through the jargon, enabling you to simplify and integrate your current set-up. 

Are you ready for the cashless revolution?
The world changed in April 2020 as the pandemic lockdown hit. Governments around the world urged us to pay by card, to help avoid spreading Covid-19. To help, regulators increased the contactless limit to £45 from £30 which had been the previous threshold since contactless payments were introduced in 2007. More than half of all payments were made by card last year, with the pandemic seeing us turbocharge the acceleration of the UK towards the so-called cashless society. The permanent shift to more of the UK paying by card is now with us and we won’t be going back, so now is the time all retailers must embrace this technology.

Your customers are changing, are you?
According to Vicki Burnett at The Charity Retail Consultancy charity retailers are seeing a rise in ethically-focused consumers wanting to support sustainability, rebelling against the trends of fast fashion. This group of savvy shoppers are led by social influencers like Lauren Bravo. This age group are not afraid to shop and to be seen in charity shops and, like Bravo, are big fans of buying and promoting preloved goods and talking about it via their social media channels.

As independent payments experts, we have seen how this generation known as Gen-Z expect to pay digitally, be that via their smart device, phone, watch, jewellery, or debit/credit card. Research from GoHenry backs this. Their data suggests that Gen-Z overwhelming use card when paying for goods and services with only 14% specifying a preference for using cash.

Are you paying unnecessary fees and charges?
This can be one of the last utilities checked in retail as you know that your bill is related to the amount taken by card. With more card transactions taking place your bill may be rising and rising. We have found that some charities are now taking more payments over the phone or online and are attracting unnecessary fees and charges. This is something that can easily be resolved as many acquirers do not pass on these costs, with some charities seeing their costs reduced by 30-40%.  

Need help going online?
Charities need to adapt if they want to compete and drive sales, with accepting card payments online being one of the key ways to do this. Deciding the best method for accepting online payments can be a daunting task though, whether you are an emerging or established business looking to start selling online.

We are experts in finding the right card payment solution for charities and businesses of all sizes. We are here to highlight the main ways to accept online card payments and offer support in doing so.

Are you working SMART?
We’ve seen contactless donation technology come a long way since first introduced in the UK. The early versions were very basic and uninspiring. Fast forward to today and these once unexciting pieces of plastic have been revolutionised with dynamic smart screens which enables charities to broadcast a short film with a clear call to action, the donor has multiple donation amounts, and allows the charity to collect Gift Aid data.

What do I do next?
If one or all of the above has you thinking then please get in touch with jason.costello@acceptcards.co.uk to take full advantage of our free-to-CRA-members review service, we’ll undertake a full analysis for your charity and provide the best solutions that will save you the most money, make you more efficient or, if you are really lucky, you’ll receive both.