In 2024, 11.5 million payments per day were processed using debit and credit cards in commercial transactions, equivalent to 89.5% of all transactions carried out last year.

These figures, present in the latest Bank of Portugal Payment System Reportshows us the ever-increasing democratisation of cashless transactionsand its greater weight in the turnover of Portuguese businesses.

Why is accepting card payments essential for your business?

In view of the statistics presented, which only reflect a trend that the REDUNIQ Insights has been following since 2019, accepting card payments becomes not only an emergency, but also a must for increasing your sales and customer loyalty rate.

Consumer habits have changed radically. After pandemic years in which online shopping gained momentum and the use of physical payment methods was promoted by the Government and the Bank of Portugal, the consequence has been the birth of a consumer who is more demanding when it comes to their shopping experience, namely the way in which they can pay for their purchases more safely, quickly and hygienically.

By complying with these requirements, businesses, especially smaller ones, gain leverage and can benefit from an increase in the number of sales and the average ticket (average amount spent on each purchase).

This is confirmed by the regulator's report that we referred to at the beginning of our article, since there was a growth of 46.4% in quantity and 47.2% in value in card payments, especially those where the contactless technology was present: 56.7%.

However, in order for your business to benefit from this new consumer ecosystem and take advantage of card acceptance for payments, you will need to install payment terminals for SMEs in your business premises.

Types of payment terminals available for SMEs

Starting to accept payments with cards and even smartphones isn't as complicated as you might think. Everything will depend, among other factors, on the goal your business has set itself, your turnover and the needs of your customers.

In this field, REDUNIQ stands out with a offering payment solutions for small businesses varied and always suited to their interests.

If you take a look at REDUNIQ's TPA solutions, you'll find the following TPA BasicThis new service, which, as the name suggests, will allow you to offer your customers greater payment security and accept contactless and PIN transactions via the main national and international debit and credit cards, MB WAY and the Apple Pay and Google Pay digital wallets without having to worry about the membership fee, as it is free.

In addition to this solution, you'll also find Free TPA with an Easy monthly fee, a terminal that will allow you to know how much you will pay according to your business turnover and accept all types of payments, including cards, digital wallets and MB WAY.

In addition, these TPAs have no membership costs and no loyalty period, enabling you to accept payments of up to €7,500/month with any card, with no card transaction fees.

If your business requires a more robust solution when it comes to debit/credit card payments, we recommend installing a TPA Android Smart.

In addition to the aforementioned contactless card payments, this terminal also allows you to accept transactions via digital wallets and MB WAY, as well as taking advantage of payment solutions such as PIX or the Instalment plan with UNICREThis will give your business a huge competitive advantage over your direct competitors by making payment more flexible for your customers.

As is the case with many small businesses, the absence of a physical shop means that they need a POS solution that can accompany them throughout the day without representing added costs or major logistics.

If that's your case, the REDUNIQ Soft solution turns your smartphone into an Android POS capable of accepting contactless, NFC and QR code payments anywhere, anytime.

What to consider in terms of fees and security

As we mentioned, in choosing your TPAIn addition to this, you need to take into account the turnover of your business and the needs and payment habits of your customers.

The membership and transaction fees associated with a terminal should be a factor to analyse, as they can be an added expense and, when all is said and done, make it not worth hiring a particular POS.

In addition to the fees, the security offered must always be taken into account, as we are talking about payments and sensitive customer card data.

In this respect, REDUNIQ once again stands out as the the only PCI-DSS certified acquirer in PortugalIn practice, this means that the terminals comply with international security standards and are regularly audited to ensure that debit/credit cardholders' data is completely protected against third-party tampering, fraud and potential breaches of confidentiality.

Competitive advantages of offering multiple payment methods

If you decide to offer multiple payment methods to your customers, your business will be able to secure the following competitive advantages:

• Increase in the number of sales and the average ticket;
• Increase in higher value sales;
• Greater convenience, as your customers are not limited to the physical money they carry with them;
• Growth in the loyalty rate;
• Better management, since all transactions are recorded digitally and can be consulted in your Client Area;
• Greater payment security - not only will you not touch the customer's card/smartphone at the time of payment, but you won't have access to the information on it and you won't have to deal with large amounts of physical cash;
• Access to complementary technologies that enrich customer service, such as the Parcela Já solution with UNICRE, which allows you to enjoy greater flexibility at the time of payment.

Accepting card payments is no longer optional for SMEs: it's a market requirement and an opportunity for growth. By investing in secure and flexible solutions, you guarantee more sales, a higher average ticket and satisfied customers.