• Jon Knott, Head of Customer Insight at Dojo


• 19.12.2022 03:15 pm
#payments

Changing consumer habits are shifting the payments landscape. Today, 95% of businesses already accept payments other than cash. 44% of the small number of cash-only businesses plan to add other payment methods in the next five years. What’s interesting is that the move away from cash-only is largely driven by demand which in turn is shaped by the current economic landscape. 56% of businesses cite customer preference as the reason to accept card payments.

1 in 10 businesses on the UK High Street trust us with their card payments, which gives us a good sense of the swing towards multiple payment methods including card. Overall, society continues to move away from a reliance on cash. But we have seen that in the cost of living crisis more people have started using cash again to more efficiently manage their spending. Going into 2023, it will be crucial for businesses to continue to respond to what their customers want and expect, and provide the right mixture of different payment methods for them.