NMTF – Taking Card Payments at the Market Stall

JOE HARRISON Chief Executive NMTF about the partnership with Chip & PIN Solutions.

Source; Market Times magazine- October edition

I would like to draw your attention to the partnership working we have been engaged in with our sponsors Chip and PIN Solutions in encouraging traders to take payments by credit or debit cards. We have developed a truly ground breaking scheme which will be to the advantage of many more market traders. I would like to take this opportunity to thank the Chip & PIN Solutions team for all the hard work they have put into developing the scheme.

The scheme is one of a kind, as it will allow a payment from the merchant account to be made in to the trader’s personal account. This I am sure you will agree is a great step forward as many traders do not operate a business account. Secondly there is a money-back incentive for joining the federation and in turn taking up a chip and pin terminal. It is a proven fact that retailers who have introduced the taking of card payments have increased their turnover by 30%.

Many members of the public these days go around with less than £20 cash on their person, therefore removing any opportunity for the impulsive buy from a market trader who does not take the “plastic”. As an industry we must take all possible opportunities to sustaining the market businesses by using every avenue available to all other retailers.

To all the traders out there — let’s not miss the opportunity of taking an extra few quid a week. I’m sure it’s well needed.

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