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The Plastic Card in the UK: Some Facts for Business OwnersIf your UK business isn't
offering some type of plastic card to your customers, it should be.
Usage of plastic cards has skyrocketed in Great Britain and businesses
large and small are profiting the widespread acceptance of these
multi-use business tools. In this first of our series of articles about
plastic card systems, we'll present some basic information about items
like plastic membership cards and plastic discount cards that will help
develop effective strategies for utilizing them in their business
plans.
A recent report from Reuters news service claims that Britons "have
more plastic cards in their wallets than people in any other country in
Western Europe." Another study cites the fact that the average British
adult carries 2 or 3 cards in his wallet, nearly 3 times the number
carried by other members of the EC (European Community). The French,
for example, average only one card per eligible citizen. Countries like
Italy, Finland, Ireland, Denmark and Sweden also average about 1 card
per person. With such a surfeit of plastic cards in use in the UK,
doesn't it make sense then, to target British consumers in a promotion
that focuses on encouraging them to acquire a plastic loyalty card or a
plastic credit card that will make it easier for them to buy your
products and services? Just check out the numbers below if you have any
doubt about using some type of custom plastic card in your business.
There were about 1.9 billion transactions on credit and charge cards in
2007 in the UK, with the average value of a single transaction being
about £63.22. With over 165 million cards in circulation, over 84% of
the adult population hold some type of printed plastic card, like a
debit card or a check guarantee card. If you're interested in cashing
in on this huge market, read on to learn what types of cards you can
accept.
Debit cards are one type of plastic card most businesses accept.
Transactions on debit cards are limited to the funds available in the
customer's bank account. Some debit cards have overdraft protection
that will guarantee the amount of the transaction, even if it exceeds
the amount in a customer's account. The most desirable type of debit
card is one that contains the MasterCard or Visa logo. There's a new
type of hard plastic card available in the UK called a "contactless
card." Contactless cards are generally used for transactions under £10.
All the customer has to do to authorize a payment is hold their card up
to a secure reader. Contactless cards are fast and easy to use because
they contain a built-in computer chip that facilitates the transaction.
Plastic cards are a relatively inexpensive way to provide a benefit to
your customers that will speed up their time at the checkout, something
that's bound to increase goodwill. More importantly, card usage
information and statistics help business owners tailor advertising and
sales campaigns in a more targeted way. If you're a UK business owner
interested in implementing a plastic card program, be sure to read the
other articles in this series for valuable background and tips to help
you take advantage of this cost-effective tool for increasing sales.
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