Big Issue Seller Goes Contactless
Monday 5th March 2018
"Sorry, I've no cash only got my card".
A familiar response to a seller of the Big Issue. This is a common issue with retailers and charities.
One enterprising Big Issue seller bought a contactless card reader. Guess what? Sales improved. Around a quarter of his customers now pay using contactless cards and the use of cash continues to decline.
There are other benefits too. His sales process is quicker because he's not handling change, so he sells his stock faster and finishes earlier giving home more time.
Barclaycard expects charities in the UK will lose about £80m in potential donations if they continue to rely on cash. So the message is adapt to the needs of customers and tap into a vast wellspring of potential donations.
The Rough Sleeping Partnership (RSP), an alliance of four charities decided to trial two contactless donation stations in a local shopping district. From May to November the terminals raised, on average, £370 each month, much greater than cash collection tins.
NSPCC, Oxfam, Barnardos and The Royal British Legion have all trialed contactless systems with staggering success. Average donations using contactless payments were treble those of cash.
Electronic payments mean the donations reach the charity bank accounts immediately without using up volunteer's time for counting coins.
For forward thinking charities, the decline of cash doesn't mean the decline in giving.