Britain’s small businesses could be losing more than £800m of sales a year by not taking credit and debit card payments, research has suggested.
A survey of 1,000 British small and medium-sized businesses (SMEs) has found that nearly one in 10 firms lost more than £1,800 over the last 12 months as a result of not taking cards.
According to the PayPal research, nearly two-thirds of the SMEs surveyed do not accept card payments.
Nearly one in ten firms said they were put off by the expensive set up costs of Chip and PIN machines, while 13 per cent were deterred by high monthly usage costs.
By Daniel Johnson 13 Nov 2013 www. telegraph.co.uk