As of January 2023, UK businesses have been receiving messages from their payment systems provider, saying they “may be able to save money” with another provider who “might better suit” their needs.
Service providers aren’t doing this because they want to be open and honest with their customers. They’ve been forced into it by the Payments Services Regulator (PSR).
So, what’s going on?
- Until recently, banks and a couple of fintech companies they’d signed agreements with had a monopoly on the electronic & mobile payments market.
- UK businesses had very little choice but to accept their demands of high rates and long-term contracts (usually 3+ years).
- Now businesses have a broader choice of providers, and more bargaining power. Innovative newcomers like OrangeApe are beginning to disrupt the market.
- The maximum contract length allowed is now 18 months. Business owners can shop around and try out a new payments system without the pressure of a long-term commitment.
- Up to a third of UK Businesses are expected to change their provider.
OK, so what is OrangeApe?
- OrangeApe is an advanced all-in-one mobile ePOS & payments system specifically designed to increase the turnover of your business.
- In light of the UK’s staffing crisis, particularly in the hospitality and retail sectors, there’s a vital need for smart tech that can help make up the productivity gap.
- With sleek iPhone style hardware, comprehensive training for new staff, and guaranteed always-human customer service and technical support, OrangeApe is the smart, fast and reliable way to do mobile ePOS and card payments.
Secure your OrangeApe system today.