With Card Payment penetration in Convenience 62% behind the rest of retail, we look at the potential causes and impacts.

February 1, 2019
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Convenience Card Payments Lag Behind Wider Retail

Recent analysis carried out by The Retail Data Partnership (TRDP) shows that card payments make up just 14% of total payments made in convenience stores. This is far behind the wider trend in retail, both online and in-store where 76% of payments are now made by card.

This difference of 62% is caused by various factors which make convenience unique in relation to other parts of the retail sector including:

Such heavy use of cash in the convenience sector is an issue. As well as the increased security risk of holding large amounts of cash on-site, it is costly to process cash at the bank. Retailers can solve this particular problem by using an in-store ATM to dispense cash instead of taking it to the bank.

Despite the poor performance of cards in convenience stores, usage is on the rise, increasing by 4% in 2018 alone. Innovations in the payments and EPoS sector have made making card payments easier for customers and taking card payments a smart move for retailers. For example, ShopMate EPoS’ integrates with a variety of payment providers available here.

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