ShopMate partners DNA Payments to provide payment options in the UK

ShopMate Pay will be available to existing and new customers who will benefit from a unified approach for all their payment and EPOS needs. The solution is aimed at retailers, convenience stores, and merchants.

The company aims to deliver a payment solution that is efficient and adaptable to the unique needs of independent retailers, enabling businesses to grow and expand.

The payment market in the UK for retailers

There are a wide variety of payment methods available in the UK. Payers generally choose the method that best meets their needs in any given situation, albeit sometimes influenced by the preferences of the payee.

Convenience stores and small retailers are some of the fastest adopters of new payment technology. According to UK Finance, the most popular place for consumers to make contactless payments in 2023 continued to be supermarkets. Purchases in supermarkets accounted for 39% of all contactless payments being made in the UK. In total, retail outlets were responsible for 62% of all UK contactless payments.Besides credit and debit cards, UK citizens also use mobile payments such as Google Pay or Apple Pay. 42% of the adult population reported being registered for at least one mobile payment service in 2023, up from 30% in 2022. Of those registered for mobile payments, 98% of these people used the services to make payments to stores and retailers during the year.

The adoption of BNPL payments is also increasing. Young consumers tend to use BNPL services more than older cohorts and the age group with the most BNPL users in 2023 was 25- to 34-year-olds. Almost one in four adults in this age group used BNPL services during 2023. In contrast, just 6% of people aged 65 or over used the method.