52
Fashion Jobs
ZALANDO
Head of Engineering - Emerging Propositions
Permanent · HELSINKI
ESTÉE LAUDER COMPANIES
Beauty Advisor - Sokos Helsinki (Fulltime Temporary)
Fixed-term · HELSINKI
ESTÉE LAUDER COMPANIES
Full Time Beauty Advisor - Vantaa Airport, Helsinki
Permanent · HELSINKI
ESTÉE LAUDER COMPANIES
Estee Lauder Companies - Multi Counter Manager - Stockmann, Turku
Permanent · TURKU
MUJI
Avoin Hakemus - Myymälä
Permanent · HELSINKI
MUJI
Avoin Hakemus - Ravintola
Permanent · HELSINKI
JACK & JONES
Myyjä Jack & Jones Helsinki Outlet
Permanent · HELSINKI
MANGO
Sales Assistant
Fixed-term · VANTAA
RITUALS
Sales Advisor (Summerextra) - Tampere - Ratina Shopping Center
Permanent · TAMPERE
RITUALS
Sales Advisor (Summerextra) - Vantaa - Jumbo
Permanent · VANTAA
JACK & JONES
Kesätöihin Myyjäksi Vero Moda / Jack & Jones Porvoo
Permanent · PORVOO
NEW YORKER
Haemme Extra- Myyjiä New Yorkerin Myymälään Mikkeliin
Permanent · MIKKELI
NEW YORKER
Haemme Extra- Myyjiä New Yorkerin Myymälään Ouluun
Permanent · OULU
NEW YORKER
Haemme Extra- Myyjiä New Yorkerin Myymälään Vaasaan
Permanent · VAASA
MONKI
Sales Advisor, 10h (Summer Help Temporary)
Fixed-term · VANTAA
VERO MODA
Myyjä Vero Moda Seinäjoki Idepark
Permanent · SEINÄJOKI
ESTÉE LAUDER COMPANIES
MAC Make-up Artist (20h/Week) - Sokos Tampere
Permanent · TAMPERE
ESTÉE LAUDER COMPANIES
Beauty Advisor (30h/Week) - Stockmann Helsinki
Permanent · HELSINKI
MASSIMO DUTTI
Sales Assistant Massimo Dutti, Helsinki
Permanent · HELSINKI
H&M
Sales Advisor, 15h - Kesätyö
Permanent · SEINÄJOKI
H&M
Sales Advisor, 10h - Kesätyö
Permanent · KOTKA
H&M
Sales Advisor, 10-20h - Kesätyö
Permanent · PORVOO
Published
Oct 8, 2018
Reading time
2 minutes
Download
Download the article
Print
Text size

Card payments soar in UK stores but retailers are concerned over costs

Published
Oct 8, 2018

More and more popular for their convenience and speed, card payments now account for 75% of all retail sales in the UK, but accepting this payment method is costing retailers almost £1 billion a year, a new report from the British Retail Consortium revealed.



Lower value payments, traditionally dominated by cash, are driving the shift towards card payments. In fact, the value of retail purchases made by cash has fallen by more than 1%, accounting for just 22% of all retail sales.

But the BRC’s latest annual payment survey, which represents 48% of the entire retail industry, has revealed that retailers are not as happy about the growing dominance of card payments as consumers.

This is because merchants must pay a fee to cover the cost of processing card transactions, forcing them to spend an additional £170 million last year. This year, the sum is expected to reach almost £1 billion.

Additionally, card scheme fees jumped by almost 40% in 2017 and are expected to rise between 30% and 100% for some transactions this year.

“EU payment regulation introduced in 2015 delivered savings for the retail industry and consumers, but these benefits have now been eroded by increases in other card fees. In fact many smaller retailers have questioned whether savings were ever passed on by card companies,” said BRC head of payments and consumer credit Andrew Cregan.

“The BRC are now looking to the Government and Regulator to tackle the alarming increases to card scheme fees imposed on retailers, and for action to simplify the complex fees and charges levied by the card payments industry.”

The increases join a string of other pressures facing small and large retail business in the UK amid economic uncertainty, growing business rates and muted consumer spending.

Copyright © 2024 FashionNetwork.com All rights reserved.

Tags :
Industry