Elavon with Opayo helps SMEs reopen with new payment solutions

Elavon with Opayo has revealed some new insights into customer spending and how it helped SMEs during the lockdown period

Elavon is helping small businesses SMEs reopen by offering up new eCommerce and point of sale (POS) solutions as COVID-19 sparks a change in customer behaviour.

The global payment firm recently carried out a survey with Ipsos Mori showing that more people are gravitating towards contactless and online payments.

More than two thirds (68 per cent) say they would actively seek to use cards and contactless payments following the pandemic, proving the appetite to get businesses set up with these payment methods quickly. Over half (52 per cent) increased their spending online so businesses had to move fast in order to sharpen their processes and meet that demand.

What’s more, almost two thirds of respondents (65 per cent) say they want to prioritise spending on days out, dining out at restaurants and meeting friends in the coming months. In order to meet with social distancing guidelines, the processes for booking tables and rooms online, ordering food and paying for services are essential for businesses.

The number of businesses enquiring about eCommerce rose 30 per cent in May and 52 per cent in June year-on-year.

Elavon has been helping companies move to eCommerce during lockdown when physical stores were shut. In fact, it helped Lola’s Cupcakes transform from a pastry shop to an online delivery service at the height of lockdown. Customers could order through its revamped website and have different grocery boxes delivered contact-free, depending on the customer’s needs.

Hannah Fitzsimons, president and general manager for Elavon Merchant Services Europe said: “We have supported our customers throughout COVID-19 by providing continuous operational support and by standing up the right mix of solutions to help them trade.

“We are seeing more businesses consider online, face-to-face, or mobile payments at the core of their reopening strategy in new and rapidly-changing market conditions.”

Elavon recently acquired Sage Pay which has been rebranded it as Opayo.

Read more

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