In 2022 the PSR (Payment Systems Regulator) looked at ways in which it could implement new rules to give companies that use card payment solutions a better service from their providers.
These rules have now been finalised and here are the new changes in a nutshell ….
1) Providers will be more transparent in managing accounts, reminding businesses when their contracts are due to expire.
2) Providers to offer better information detailing fees, and provide a quotation tool of key charges to help customers make better informed choices.
3) Shorten contracts for POS terminal contracts, ensuring the maximum contract lengths will be 18 months.
Here at Smart Card Payments, we are very supportive of these changes. We already work hard to be transparent, we offer excellent rates with no hidden charges, and we always contact customers close to contract end to let them know their current deal is ending.
Our customer retention rate is excellent because we are competitive, reliable and offer excellent customer service, unlike so many providers in the industry.
We hope this information is useful for you, however if you need any further information, support or even a free no-obligation quotation then why not get in touch.
www.smartcardpayments.co.uk