🧳 Are you a business that welcomes tourists?
✈️ According to figures from VistBritain.org In 2023, the UK welcomed 38 million inbound visits. Visits were up 21% vs 2022. The bit that caught my attention more was that these inbound visitors spent a record £31.1bn during 2023, up 9% vs 2019 and up 17% vs 2022.
💳 As we enter into peak holiday season it was this information fresh in our minds that caught Mark Firth a little surprised when chatting with an Edinburgh-based attraction that didn’t know how their visitors paid them.
💸 They were completely on the ball and knew that the majority of overseas visitors came from the EU, closely followed by North America and they commented on seeing a rise in Chinese tourism and wanted to know more about “WeChat & AliPay”, but when Mark dug a bit deeper and asked what the fees on taking overseas cards, they didn’t know.
💱 They aren’t on their own when not knowing the true cost when accepting card payments from international visitors, as the UK’s largest independent payments broker we know how processing fees can eat into profits, especially for high volumes of tourist transactions. These can include:
💹 Foreign transaction fees: Up to 3% added to each purchase!
💹 Per-transaction charges: Extra fees for every card tapped.
These fees can add up quickly, impacting your bottom line. But there’s good news as since 2005 we’ve been helping businesses find a better deal.
We provide a free of charge service where we’ll review your current payment facility to understand how you take payments now and how your business will take payments in the future so we can ensure we secure the best solution for your business, offsetting these expensive charges.
To get a clearer picture of how your business is impacted and avoid the pitfalls feel free to drop us a note and see how much you could save.
acceptcards® Independent Payment Experts – We make payments simple.
