There are so many ways to take card payments, so why not choose one that suits your business and how your customers would like to pay you.
As independent consultants, acceptcards have lots of ways to get you paid and with an unrivalled choice of card payment providers and technology solutions covering all business sectors.
Who are acceptcards?
The acceptcards team is made up of banking and finance professionals, with unrivalled knowledge in all areas of card acceptance (retail, mail order to website payments). This means they can very quickly understand your business and match the solution to your requirements.
Founded by industry experts in 2005, acceptcards was established to provide all UK businesses with access to the best terms and solutions from the merchant services providers. Being an independent and privately owned business they are not tied to any provider, enabling them to be truly objective in the solutions they recommend and arrange. They are widely recognised across the payments industry in providing honest advice and recommendations around what is best for each business.
What do they do?
acceptcards are unique in the merchant services world. They have developed relationships with all the major UK and International providers meaning they are a “cost and solution comparison service” for all businesses looking to review their existing card payment facility or if businesses are looking to start accepting card payments.
Merchant services have become an increasing part of a business’s overheads. acceptcards aim to decrease these costs by offering a fully comprehensive service, whilst also advising on new payment technology.
Benefits to Forum members
Financial – A period of free terminal rental and access to discounted processing rates. In the majority of first-time reviews they undertake they identify a saving in excess of 30%.
Proactive consultation – On registration for the acceptcards review service you’ll be contacted annually by acceptcards for a review, covering pricing, latest innovations or any changes that can add value.
Support – Free ongoing availability for advice covering all aspects of card payments, whether a member has taken on board previous recommendations or not.
Flexibility and Control – Access to a wide range of card machines, virtual terminals and secure gateways to ensure you’re ready to accept payments with agreements separate to your merchant account, putting you in control of switching and having greater control.
Free – Services and guidance is provided at no cost and members retain the benefit of all the savings identified.
acceptcards offer a wide choice of payment solutions:
- Online payments through your website
- Chip & Pin for customer present payments
- Telephone/Mail Order payments
- Secure Pay by Link for your invoices sent out by email
- Pay/order by mobile phone app
- Integrating payments into your Epos
Latest News from acceptcards
Smarter cash handling solutions for FPB members.
With the banks/post office charging up to £1.50 per £100 (1.5%) to deposit cash a new solution is now available that can reduce this by 50 to 60% and significantly reduce time handling cash, like travelling to a bank/post office and reconciliation. In addition, whilst secure collections can be set weekly or suit the volumes of cash your business accepts, funds are settled in your bank account daily, whilst the cash sits securely in the smart safe and insurance liability removed.
Our long-term payment partners at acceptcards have launched this solution, acceptcash, bringing together all the providers from smart safe providers, cash in transit providers and comes with on-going support and maintenance.
Depending on the volume of cash you handle, the savings on processing fees alone can be significantly higher than the cost of the smart safe, whereas for others the efficiencies and time savings can more than cover the cost. See example*
Smart safes come in different sizes, from £15k capacity up to £250k and can be located securely in a retail of office environment, which is discussed with you as part of the initial survey.
*Example:
Cash volume £25,000 per month, charged at £1.50 per £100
Monthly cost = £375
Smart Safe/CIT collection £240pm plus £125 based on 50p per £100
Monthly cost = £365
Savings cover the cost, with additional benefits of daily settlement, reduced handling costs and security
Summary of benefits:
- Significant cost reductions (combined processing and efficiencies)
- Increased safety & security
- Works with all banks (faster payment on settlement means they aren’t involved)
- Same day settlement
- Reduce shrinkage – lost cash
- Real time management information and traceability of cash
- Fraudulent note full proof
- Reduced costs of ensuring cash on premises
For more details, contact ……
Other benefits not factored in are: cashflow (daily settlement), validation of bank notes (no more fakes), reduced shrinkage (reduced amount of times cash is handled by staff).
What’s interesting is that businesses are typically looking at the bank charge for processing and not factoring in the time-consuming and challenges faced in handling cash. If you take the attached retail example, of the £77m per annum, at 20p per £100 it’s a fairly good rate (which can still be reduced) which accounts for £154kpa of the £3.291m costs when factoring in all the other time and handling factors in store/location.
Wording below which you can use, as appropriate for any communications:
BBMS can now provide innovative solutions to make cash management effortless. Using cutting-edge Smart Safes, designed to streamline your operations, eliminate unnecessary steps, and ensure your cash is safe, secure and fast settlement to your bank account.
Transform your cash management:
Tailored – Choose the right Smart Safe for your business and decide where it best fits (point of sale or back office)
Professional Installation – expert team with global experience working with tier 1’s for cash management devices, ensures seamless installation with minimal disruption to your operations. Full training and support, management.
Management & control – Instant cash validation, secure storage, real -time data, indemnification for cash on premises and same day settlement to your bank account.
How the process will work:
1/ Introductions made in the way that you feel appropriate for each case
2/ ACL and/or Cennox to arrange completion of information gathering (sufficient to enable a full proposal as per the data provided for the attached retail client)
3/ Cennox will be involved from the start with all Tire1,Tier 2 merchants, ensuring all the information needed is covered, answer any questions and cover time analysis information needed.
BBMS can also be involved in this part of the process as and when you feel appropriate. It might be helpful for the first 1 or 2 anyway to help with knowledge on the subject!
4/ Proposal accepted and roll out plan agreed. As mentioned above, for operations of a certain size (50 or more sites), there is scope to agree a trial in a select number of locations, before a full commitment.
5/ Cennox arrange and manage the installation process – involves a site survey and where a Cash in Transit service isn’t already used, a survey for access/security
6/ Start using the safe for instant validation, secure storage
7/ Cash is indemnified once in the smart safe (by the CIT – G4S, NoteMachine etc) so can also benefit insurance risk/premiums
8/ Cash deposited each day to the business bank account (even if collection is weekly or twice weekly)
9/ Detailed reporting & reconciliation visible to the finance team within the business
10/ The CIT collections are auto generated once the safe reaches a certain capacity – say 80%