As businesses start their preparation for a grand reopening in the months ahead, there will be plenty of things to consider. From deep cleans to bookings to a new layout and one-way systems – creating a safe place for customers to dine, shop, or visit will be the main priority.
One of the ways business owners can help curb the spread is by accepting contactless debit and credit cards from customers and digital contactless payments like Apple and Google Pay.
With 80% of consumers now preferring to spend with debit and credit cards, not only is this in line with your customer’s needs, but it helps staff and customers minimise touchpoints.
But when it comes to accepting card payments, it makes business sense to be as exclusive as possible – which means accepting cards from all over the world, not just the UK.
You’ll be used to seeing the Visa, Mastercard and America Express logos on customer cards as they’re typically issued from major banks in the UK, making them the most popular.
But that doesn’t mean that they’re the only cards used by people in the UK. Many international residents prefer to use their native cards while living here as it offers them many advantages and efficiencies.
As we keep our fingers tightly crossed for the return of international travel again this summer, if you’re a retailer or restaurant owner, you should consider accepting cards on the Discover Global Network to capitalise on business opportunities.
What is the Discover Global Network?
The Discover Global Network includes Discover Card, a credit card brand issued since 1985 in the United States.
You may have already heard of Diners Club International®, the first card ever issued, now part of the Discover Global Network, and issued in over 55 countries.
To date, Discover Global Network has over 20 alliance partners, increasing acceptance across the globe and enabling their cardholders the benefits of spending freely internationally.
Some partner cards include, but aren’t limited to:
- RuPay Global Card – India’s largest card network
- BC Global Card – South Korea’s largest card network
- DinaCard – Serbia’s largest card network
Discover Global Network is the fastest growing payments network with over 270 million cardholders active worldwide; there is a massive opportunity for retailers in the UK, who are yet to start accepting the network of cards.
The benefits of accepting Discover Global Network in your business
Encourages customer loyalty
Customers that own rewards-based cards such as Discover tend to use that as their primary card whenever they spend as they can earn cashback. This means that consumers with these cards are likely to look for businesses that actively accept their card rather than take the chance.
If a customer knows that your business accepts their preferred payment method, they’re more likely to return and spend with you again, so it’s good business for both of you.
In fact, 82% of Discover Cardholders would revisit a company that accepted their preferred credit card.
Opens up your business to a global customer base
Before global travel restrictions, tourism across the UK was booming, and many businesses benefitted from customers from across the globe. There were over 40 million visits to the UK, with inbound visitors spending over £28 billion, an increase of 7% from the previous year.
With many people having a lot more disposable income from lockdown when things start to reopen, there will undoubtedly be a rush for consumers to splash out on holidays and holiday spending.
So if you’re a small business owner that benefits from increased tourism footfall, get ready for the borders to open by accepting the fourth most popular card in the US.
And if you’re a business owner located in locations with increased tourism levels, or near airports or hotels, you could see an increased profit by accepting cards on the Discover Global Network.
It requires no additional setup with Dojo
With your Dojo card machine, you’ll be able to accept all cards on the Discover® Global Network from the moment your contract starts. Find out more about our merchant accounts and how to get started today.
If you’re already a customer, we’ve updated your agreement, so you’re able to see the fees associated with accepting the network.
When you start accepting the Discover Global Network, you’ll receive all of the signage and decals you need to let your customers know you take their chosen card. It’s essential to display your decals as 69% of Discover Cardholders look for signage before choosing a merchant.
Sources:
Discover is the fastest growing network: Based on signed network alliance agreements over the past twelve years with major payment networks within respective countries - Panoramic Research study, conducted 2020
Discover cardholder data: Discover Global Network participant reporting and RBR - Global Cards Data and Forecasts to 2025, Oct 2020
82% of Discover Cardholderswould revisit a company that accepted their preferred credit card: Discover Cardholders who have travelled internationally in the past 24 months C+R Research Study of 1,200 Discover Cardholders, July 2020 commissioned by DFS LLC
Signage claim based on written partner verification, RBR Reporting, Internal DFS reporting
