SMEs missing out on millions at point of sale
SMEs are losing thousands of pounds each year due to slow card machines, according to a new survey from money.co.uk.
It found that 46% of companies questioned said they miss out on sales due to slow machines, with 61% estimating they miss out on more than £2,500 and 31% putting the figure at more than £10,400.
Meanwhile, eight per cent of SMEs believe lost revenue caused by slow machines and cancelled sales exceeds £20,800 annually.
In total, UK SMEs are at risk of losing £1.7bn due to payment system failures this year.
Causes of slow terminals include weak Wi-Fi, slow internet speed, or high traffic on the provider’s network.
Card machines
Matt Browning, money.co.uk card payment solutions expert, said: “Getting customers through the door can be tough enough for small businesses in 2026, with the cost-of-living crisis, online retailers and unpredictable weather taking their toll on steady footfall.
“But even when customers reach the till, some sales are still slipping through the net.
“With SMEs already making hard decisions to scale back due to rising employment costs and increased business rates, our survey shows how choosing the right card machine could be one decision that saves a small business thousands of pounds each year.”
