Metro Bank debuts ‘walk out trading’ service
In an industry-first, Metro Bank has today announced the launch of its ‘walk out trading’ service. Powered by long standing payments partner acceptcards®, it will allow businesses to accept debit and credit card payments as soon as they open their account.
With the length of time it takes to get up and running being a critical factor in determining how successful a new business will be, Metro Bank’s trading business customers will be able to accept and process card payments in a matter of hours.
Business current accounts can be set-up on-the-spot in store without an appointment, with customers receiving their card and PIN, as well as being registered for internet and mobile banking then and there and can now also benefit from a ready-to-go merchant services solution. The quick and simple process delivers an instant decision, meaning businesses can start accepting card transactions as soon as they leave the store.
Existing customers can also choose to add the service to their business account at a time convenient to them. Metro Bank’s seven-day-a-week, early-to-late opening hours, means customers can pop in at a time that fits in with their busy schedules, whether that’s first thing during the week or last thing at the weekend.
The bank has begun a phased rollout of the programme across 10 of its stores and expects to offer the service across its entire store network by the end of the year.
Craig Donaldson, CEO at Metro Bank said:
“We’re already winning 17% of business banking switchers1 across London by offering products and services designed around their needs. Our ‘walk out trading’ service is adding yet another element to our growing armoury of business banking services.
“Business owners are time-pressured enough and often have ever-growing to do lists. We don’t want them to be held back by anything, but the limits of their ambition. By joining forces with acceptcards®, we’re making things even more convenient and streamlined for our customers, meaning they can get up, running and trading in a matter of hours, rather than days – if not weeks.”
Richard Bradley, CEO at Acceptcards added:
“Our focus at acceptcards® has always been on finding new and innovative ways for our partners to support their customers’ payment needs. Having worked with Metro Bank for some time now, we knew that a highly convenient, in-store payment solution would sit perfectly with their revolutionary approach to serving business customers.
“The popularity of card payments continues to rise, with new payment methods and technologies emerging all the time. This exciting in-store proposition we’ve arranged makes accepting card payments more accessible than ever and highlights both acceptcards® and Metro Bank’s shared commitment to supporting UK businesses.”
The multi-channel payment solution provides customers with the ability to take face-to-face payments through a contactless-enabled chip and PIN reader, which connects to an app on a smart phone or tablet, as well as telephone and online payments.
The service is available on a pay-as-you go basis, with transactions charged at a simple flat rate of 1.75%, along with either a £99 upfront cost or £6.50 monthly rental fee for the terminal. No fixed term contracts mean businesses only pay for what they need, when they need it. A free online management portal is provided as part of the solution, which allows customers to manage their accounts easily, access additional payment channels, process refunds, reconcile accounts and access a single view of all their payment activity across all channels.
