Chip and pin terminals now do more than just accept credit and debit card payments.
Retailers can now borrow future credit and debit card sales upfront, which they repay as a percentage of each credit and debit card sale.
This is a refreshing alternative for retailers who have been struggling to get access to working capital from the banks. Retailers across the UK are capitalising on an asset they already have – their future credit and debit card sales.
With Christmas approaching, this would seem a good time to use such technology. Retailers can take advantage by receiving their Christmas takings now, investing them either into Christmas stock, refurbishing their premises or whatever else they need.
The payments are flexible, so whether I process £5k or £2k it works alongside my business activity with no risk to me or my business
Jake Schamrel, Courtyard Restaurant
One merchant to use this technology is Jake Schamrel, who needed working capital to convert unused space in his eatery, the Courtyard Restaurant, into a casual dining room. After conversion, he saw 28% growth in takings.
“This is a genius idea, a unique system that suits my business,” enthuses Scharnel. “The payments are flexible, so whether I process £5k or £2k it works alongside my business activity with no risk to me or my business.”
United Kapital is among the first companies to introduce this terminal functionality. Tony Pegg, managing director of United Kapital, says:
“These terminals are the most advanced in the market. Not only are they effective at their primary function of accepting credit and credit card payments but they give merchants the assurance of working capital as and when they need it.
“The terminals are PCI DSS compliant and are available to all types of business whether their business currently has a fixed, portable or mobile terminal.”
