Joining the Cashless Society

Ellie Bartley
Feb 21, 2020
2 min read

Do you remember the days when you were stood at a till, desperately rooting through your wallet or purse to find the pennies to settle up a bill or complete a purchase? Thankfully this is now a thing of the past as technology is aiding Britain to become a cashless society.

There are many benefits to embracing this technological advance. Here, we highlight the key benefits and explain the links between asset finance and joining the cashless society.

Lower Crime Rates

Any business owner who stores cash on their premises overnight will be aware of the potential crime risks and threats. Even if you have the top of the range safes and security measures, the business is still a target for local crime gangs, who are looking to earn a bob.

By going cashless, you have no need to store money out of hours. This lowers crime rates, protecting your premises and boosting both employee and customer satisfaction as they feel safe and secure rather than on edge and threatened.

Business and Consumer Friendly

Advanced technology allows consumers to store credit and debit cards within applications on their mobile phones, such as Apple Pay. However, businesses cannot accept payments via these methods without up to date software and EPoS systems. As a result, consumers are discouraged from visiting your establishment and purchasing your products.

With banks and cash machines also rapidly disappearing from our high streets, neither consumers or business owners have access to physical money. This is even more prominent in rural communities. Therefore, the digital version proves more effective for businesses as payments can be directly processed by software linked to their EPoS systems. This means that business owners don’t require endless trips to the bank. Instead, they can immediately analyse their takings and pay any business rates.

EPoS Systems can be Financed

When purchasing EPoS systems and their software for your business, these can be financed. are typically done on a three-year fixed term agreement. This allows business owners to consider purchasing multiple systems due to increased affordability. It will allow your owners and staff to operate fast and efficiently, give you more time to be friendly with your customers and generate more profit.

GSM regularly assists businesses within multiple sectors, including hospitality, leisure and retail, to fund their EPOS systems. For further information and to get a quote, contact us today.